Brunswick Co. (NYSE:BC) Short Interest Update

Brunswick Co. (NYSE:BC) saw a large decrease in short interest in September. As of September 30th, there was short interest totalling 4,760,000 shares, a decrease of 9.0% from the September 15th total of 5,230,000 shares. Based on an average daily trading volume, of 700,800 shares, the days-to-cover ratio is currently 6.8 days. Approximately 7.3% of the company’s stock are sold short.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BC. Stifel Nicolaus reduced their price objective on shares of Brunswick from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Benchmark restated a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday, July 26th. Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Monday, July 29th. Roth Mkm reissued a “buy” rating and issued a $94.00 target price on shares of Brunswick in a report on Thursday, July 25th. Finally, Truist Financial dropped their price target on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.23.

Brunswick Price Performance

BC stock traded up $0.28 during midday trading on Thursday, hitting $84.17. 569,314 shares of the stock were exchanged, compared to its average volume of 714,082. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 15.64 and a beta of 1.51. Brunswick has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The stock’s 50-day moving average price is $79.70 and its 200-day moving average price is $79.76.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the business earned $2.35 earnings per share. Research analysts predict that Brunswick will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 annualized dividend and a yield of 2.00%. Brunswick’s payout ratio is currently 31.23%.

Insiders Place Their Bets

In related news, Director Nancy E. Cooper sold 358 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $81.34, for a total transaction of $29,119.72. Following the completion of the transaction, the director now directly owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brunswick

Several hedge funds have recently made changes to their positions in BC. Baillie Gifford & Co. purchased a new stake in Brunswick in the first quarter valued at approximately $124,840,000. Lord Abbett & CO. LLC acquired a new stake in shares of Brunswick during the 1st quarter worth $38,655,000. Swedbank AB acquired a new stake in shares of Brunswick during the 1st quarter worth $19,304,000. Vanguard Group Inc. raised its position in shares of Brunswick by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock worth $701,331,000 after buying an additional 160,531 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Brunswick by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock valued at $152,577,000 after acquiring an additional 144,416 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

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.