Crossmark Global Holdings Inc. Trims Stake in Brunswick Co. (NYSE:BC)

Crossmark Global Holdings Inc. lessened its holdings in shares of Brunswick Co. (NYSE:BC) by 8.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 92,874 shares of the company’s stock after selling 8,093 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Brunswick were worth $6,007,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new position in Brunswick during the 4th quarter valued at $39,000. Oak Thistle LLC bought a new stake in shares of Brunswick during the fourth quarter worth $368,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Brunswick by 5.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the company’s stock valued at $316,000 after purchasing an additional 236 shares during the period. JPMorgan Chase & Co. increased its stake in Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after buying an additional 102,780 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Brunswick by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock valued at $90,171,000 after buying an additional 28,781 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BC. Citigroup raised their target price on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a report on Friday, October 25th. Morgan Stanley cut their price target on Brunswick from $78.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Truist Financial dropped their target price on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Buying and Selling at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the transaction, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. This trade represents a 8.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the sale, the director now owns 24,557 shares in the company, valued at approximately $1,969,225.83. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is owned by insiders.

Brunswick Stock Performance

Shares of BC opened at $69.11 on Wednesday. Brunswick Co. has a 12 month low of $62.64 and a 12 month high of $96.65. The stock has a fifty day moving average price of $72.29 and a 200-day moving average price of $76.91. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The firm has a market cap of $4.56 billion, a PE ratio of 17.19 and a beta of 1.54.

Brunswick Company Profile

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.