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

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

Other research analysts also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. Citigroup lifted their price target on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $95.00 to $88.00 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Brunswick presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.

Brunswick Trading Down 0.6 %

Shares of NYSE BC opened at $65.82 on Tuesday. The business has a fifty day moving average price of $75.46 and a 200 day moving average price of $77.26. Brunswick has a 1-year low of $63.08 and a 1-year high of $96.65. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The stock has a market capitalization of $4.34 billion, a P/E ratio of 16.37 and a beta of 1.54.

Brunswick Dividend Announcement

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

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was 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 $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock valued at $2,321,176 over the last quarter. 0.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Brunswick

Several hedge funds have recently bought and sold shares of BC. JPMorgan Chase & Co. grew its position in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after buying an additional 102,780 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Brunswick by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after acquiring an additional 28,781 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Brunswick by 50.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company’s stock valued at $57,328,000 after acquiring an additional 228,662 shares during the period. Franklin Resources Inc. increased its stake in shares of Brunswick by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 233,128 shares of the company’s stock valued at $19,394,000 after purchasing an additional 5,604 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Brunswick by 12.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,808 shares of the company’s stock worth $1,055,000 after purchasing an additional 1,387 shares during the period. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.