Hodges Capital Management Inc. Cuts Position in Brunswick Co. (NYSE:BC)

Hodges Capital Management Inc. lessened its holdings in Brunswick Co. (NYSE:BC) by 22.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 117,098 shares of the company’s stock after selling 33,545 shares during the quarter. Hodges Capital Management Inc.’s holdings in Brunswick were worth $11,302,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of Brunswick by 0.5% in the 3rd quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock valued at $155,794,000 after purchasing an additional 9,465 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Brunswick by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock worth $185,483,000 after buying an additional 47,053 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Brunswick by 32.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after buying an additional 278,082 shares during the last quarter. Jennison Associates LLC boosted its holdings in Brunswick by 71.0% in the 4th quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock worth $78,019,000 after buying an additional 334,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Brunswick by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 683,813 shares of the company’s stock worth $66,159,000 after buying an additional 6,239 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Insider Activity at Brunswick

In other Brunswick news, VP Brenna Preisser sold 1,225 shares of the business’s 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 sale, the vice president now owns 58,076 shares of the company’s stock, valued at $4,767,458.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brenna Preisser sold 1,225 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were 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 directly owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Brunswick Trading Up 2.5 %

BC traded up $1.78 during trading hours on Friday, reaching $72.77. The company’s stock had a trading volume of 1,127,816 shares, compared to its average volume of 761,440. Brunswick Co. has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The stock has a market cap of $4.92 billion, a PE ratio of 13.53 and a beta of 1.55. The business’s 50-day moving average is $79.06 and its 200-day moving average is $85.79. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). Brunswick had a net margin of 6.24% and a return on equity of 25.37%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company posted $2.57 earnings per share. The company’s revenue was down 21.7% on a year-over-year basis. As a group, equities research analysts predict that Brunswick Co. will post 7.39 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Monday, May 13th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, May 10th. Brunswick’s dividend payout ratio is presently 31.23%.

Analysts Set New Price Targets

BC has been the topic of several research analyst reports. Roth Mkm reiterated a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday, April 25th. Morgan Stanley lowered their price objective on Brunswick from $91.00 to $86.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. DA Davidson reiterated a “neutral” rating and issued a $77.00 price objective on shares of Brunswick in a report on Friday, March 15th. BNP Paribas reiterated a “neutral” rating and issued a $82.00 price objective (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Finally, Benchmark began coverage on Brunswick in a report on Wednesday, May 22nd. They set a “buy” rating and a $100.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.83.

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.