Truist Financial Cuts Brunswick (NYSE:BC) Price Target to $85.00

Brunswick (NYSE:BC) had its target price reduced by Truist Financial from $90.00 to $85.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on BC. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research note on Friday, October 25th. 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 note on Friday, September 27th. Finally, B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and dropped their price target for the company from $95.00 to $88.00 in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Brunswick currently has a consensus rating of “Moderate Buy” and an average price target of $88.15.

Brunswick Stock Down 0.6 %

NYSE BC opened at $65.82 on Tuesday. Brunswick has a one year low of $63.08 and a one year high of $96.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. The business has a fifty day moving average price of $75.46 and a 200 day moving average price of $77.26. The company has a market cap of $4.34 billion, a P/E ratio of 16.37 and a beta of 1.54.

Brunswick Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick’s dividend payout ratio is presently 41.79%.

Insider Buying and Selling

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the transaction, the director now directly owns 19,218 shares in the company, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now owns 24,557 shares in the company, valued at $1,969,225.83. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,940 shares of company stock valued at $2,321,176. 0.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brunswick

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Brunswick during the third quarter worth about $26,000. Avior Wealth Management LLC lifted its holdings in Brunswick by 1,073.7% during the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after buying an additional 612 shares in the last quarter. Covestor Ltd boosted its position in Brunswick by 669.0% in the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after buying an additional 843 shares during the period. GAMMA Investing LLC grew its stake in shares of Brunswick by 92.5% in the third quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock worth $97,000 after acquiring an additional 555 shares in the last quarter. Finally, CWM LLC increased its position in shares of Brunswick by 21.6% during the third quarter. CWM LLC now owns 1,323 shares of the company’s stock worth $111,000 after acquiring an additional 235 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

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.