Shelton Capital Management Lowers Stock Holdings in Brunswick Co. (NYSE:BC)

Shelton Capital Management cut its holdings in shares of Brunswick Co. (NYSE:BC) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,385 shares of the company’s stock after selling 257 shares during the quarter. Shelton Capital Management’s holdings in Brunswick were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Brunswick by 0.7% during the first quarter. BlackRock Inc. now owns 6,426,552 shares of the company’s stock worth $519,843,000 after purchasing an additional 46,519 shares during the last quarter. Cantillon Capital Management LLC raised its position in shares of Brunswick by 6.4% in the 2nd quarter. Cantillon Capital Management LLC now owns 4,409,435 shares of the company’s stock worth $382,033,000 after buying an additional 263,477 shares during the period. State Street Corp grew its position in Brunswick by 2.6% during the first quarter. State Street Corp now owns 2,121,553 shares of the company’s stock valued at $171,612,000 after acquiring an additional 53,083 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Brunswick by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,629,572 shares of the company’s stock worth $141,180,000 after purchasing an additional 97,385 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in Brunswick by 18.3% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,421,573 shares of the company’s stock valued at $116,569,000 after buying an additional 219,948 shares during the period. 94.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 414 shares of Brunswick stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $68.57, for a total value of $28,387.98. Following the transaction, the director now directly owns 21,887 shares of the company’s stock, valued at $1,500,791.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Brunswick Stock Up 2.5 %

NYSE:BC opened at $79.08 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.60 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $74.52 and a 200-day moving average of $79.66. The firm has a market capitalization of $5.52 billion, a PE ratio of 11.26 and a beta of 1.49. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $93.15.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, October 26th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Brunswick had a return on equity of 32.09% and a net margin of 7.57%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company earned $2.67 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts predict that Brunswick Co. will post 9 EPS for the current year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 21st. Brunswick’s dividend payout ratio is currently 22.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Brunswick from $122.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Raymond James decreased their price target on Brunswick from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Tuesday, September 19th. Morgan Stanley dropped their price objective on shares of Brunswick from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, October 27th. Truist Financial decreased their target price on shares of Brunswick from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. downgraded shares of Brunswick from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $109.00 to $79.00 in a research note on Monday, September 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and a consensus target price of $94.21.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products worldwide. It operates through three segments: Propulsion, Parts & Accessories, and Boat. The Propulsion segment provides outboard, sterndrive, and inboard engines for independent boat builders and governments through marine dealers and distributors, specialty marine retailers, and marine service centers; and propulsion-related controls, rigging, and propellers to original equipment manufacturers and aftermarket retailers, distributors, and distribution businesses.