Brunswick Corporation $BC Stake Reduced by Lazard Asset Management LLC

Lazard Asset Management LLC cut its stake in Brunswick Corporation (NYSE:BC) by 51.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,660 shares of the company’s stock after selling 178,634 shares during the period. Lazard Asset Management LLC owned 0.25% of Brunswick worth $12,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castleark Management LLC acquired a new stake in shares of Brunswick in the 1st quarter worth about $5,756,000. Waverly Advisors LLC boosted its stake in Brunswick by 8.9% during the 1st quarter. Waverly Advisors LLC now owns 3,184 shares of the company’s stock valued at $232,000 after purchasing an additional 260 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Brunswick by 148.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 79,607 shares of the company’s stock valued at $5,792,000 after purchasing an additional 47,573 shares during the period. Sei Investments Co. grew its position in Brunswick by 31.0% in the 1st quarter. Sei Investments Co. now owns 271,084 shares of the company’s stock worth $19,723,000 after purchasing an additional 64,184 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in shares of Brunswick by 1,187.7% in the first quarter. Walleye Capital LLC now owns 87,110 shares of the company’s stock valued at $6,338,000 after purchasing an additional 80,345 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insider Activity at Brunswick

In other news, CEO David M. Foulkes sold 25,853 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $83.12, for a total transaction of $2,148,901.36. Following the transaction, the chief executive officer owned 267,528 shares in the company, valued at $22,236,927.36. This represents a 8.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BC shares. DA Davidson reaffirmed a “neutral” rating and set a $76.00 price target on shares of Brunswick in a report on Monday, May 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research report on Wednesday, June 24th. Morgan Stanley lifted their price objective on shares of Brunswick from $82.00 to $86.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Truist Financial boosted their target price on Brunswick from $93.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Wall Street Zen cut shares of Brunswick from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $87.07.

Brunswick Trading Down 1.9%

Shares of NYSE BC opened at $80.45 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.62 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $5.23 billion, a PE ratio of -38.31 and a beta of 1.33. The business has a 50-day moving average price of $81.28 and a two-hundred day moving average price of $80.36. Brunswick Corporation has a one year low of $55.60 and a one year high of $90.25.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.24. Brunswick had a negative net margin of 2.47% and a positive return on equity of 13.30%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $0.56 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts predict that Brunswick Corporation will post 4.31 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, August 20th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.76 annualized dividend and a dividend yield of 2.2%. Brunswick’s payout ratio is presently -83.81%.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.