TimesSquare Capital Management LLC Cuts Stake in Brunswick Co. (NYSE:BC)

TimesSquare Capital Management LLC lowered its position in shares of Brunswick Co. (NYSE:BC) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 691,318 shares of the company’s stock after selling 55,788 shares during the period. TimesSquare Capital Management LLC’s holdings in Brunswick were worth $66,726,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BC. American Century Companies Inc. increased its stake in shares of Brunswick by 0.5% during the third quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock valued at $155,794,000 after buying an additional 9,465 shares during the period. Citigroup Inc. grew its stake in Brunswick by 8.3% in the third quarter. Citigroup Inc. now owns 9,723 shares of the company’s stock valued at $768,000 after purchasing an additional 742 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Brunswick by 10.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 156,596 shares of the company’s stock valued at $12,371,000 after purchasing an additional 15,042 shares during the last quarter. Raymond James Trust N.A. grew its stake in Brunswick by 4.4% in the fourth quarter. Raymond James Trust N.A. now owns 2,863 shares of the company’s stock valued at $277,000 after purchasing an additional 120 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in Brunswick by 61,277.5% in the fourth quarter. Whittier Trust Co. now owns 49,102 shares of the company’s stock valued at $4,751,000 after purchasing an additional 49,022 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BC. Truist Financial cut their target price on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Morgan Stanley cut their target price on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. DA Davidson reiterated a “neutral” rating and issued a $77.00 target price on shares of Brunswick in a research note on Friday, March 15th. Benchmark began coverage on Brunswick in a research note on Wednesday, May 22nd. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Roth Mkm reissued a “buy” rating and issued a $94.00 price target on shares of Brunswick in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Brunswick has a consensus rating of “Moderate Buy” and a consensus target price of $90.31.

Brunswick Stock Performance

Shares of Brunswick stock traded up $1.23 on Friday, reaching $77.31. 1,057,078 shares of the stock were exchanged, compared to its average volume of 792,071. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. Brunswick Co. has a twelve month low of $66.47 and a twelve month high of $99.68. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.37 and a beta of 1.52. The business has a 50 day moving average price of $76.87 and a two-hundred day moving average price of $84.11.

Brunswick (NYSE:BC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.01). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The firm’s revenue was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.57 earnings per share. Analysts anticipate that Brunswick Co. will post 7.26 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 13th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, May 10th. Brunswick’s dividend payout ratio (DPR) is presently 31.23%.

Insider Activity

In other news, VP Brenna Preisser sold 1,225 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $82.09, for a total transaction of $100,560.25. Following the completion of the sale, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Brenna Preisser sold 1,225 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the completion of the sale, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Brunswick 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.