Teachers Retirement System of The State of Kentucky Lowers Stock Position in Brunswick Co. (NYSE:BC)

Teachers Retirement System of The State of Kentucky cut its holdings in Brunswick Co. (NYSE:BC) by 45.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 77,910 shares of the company’s stock after selling 64,088 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Brunswick were worth $5,039,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of Brunswick by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,084,038 shares of the company’s stock valued at $134,796,000 after purchasing an additional 10,951 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Brunswick by 18.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,757,186 shares of the company’s stock valued at $113,655,000 after buying an additional 269,413 shares during the last quarter. American Century Companies Inc. boosted its holdings in Brunswick by 2.9% in the fourth quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock worth $94,599,000 after acquiring an additional 41,583 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Brunswick by 4.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,338,619 shares of the company’s stock worth $86,582,000 after acquiring an additional 59,228 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Brunswick by 323.9% in the fourth quarter. FIL Ltd now owns 1,114,324 shares of the company’s stock worth $72,074,000 after acquiring an additional 851,449 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Brunswick from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. B. Riley upgraded shares of Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Robert W. Baird reissued a “neutral” rating and set a $56.00 price target (down previously from $90.00) on shares of Brunswick in a research report on Friday, April 4th. Citigroup lowered their price objective on Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley lifted their target price on Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Brunswick presently has a consensus rating of “Hold” and an average target price of $76.67.

Insider Buying and Selling

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nancy E. Cooper sold 433 shares of Brunswick stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total transaction of $28,426.45. Following the transaction, the director now owns 25,361 shares in the company, valued at approximately $1,664,949.65. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Brunswick Stock Up 2.7 %

BC stock opened at $44.67 on Wednesday. The business’s 50-day moving average is $54.38 and its two-hundred day moving average is $67.25. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 23.51 and a beta of 1.42. Brunswick Co. has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period in the prior year, the business earned $1.45 EPS. As a group, analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.85%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. Brunswick’s dividend payout ratio is 90.53%.

About Brunswick

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.