Brunswick Co. (NYSE:BC) Announces Quarterly Dividend of $0.42

Brunswick Co. (NYSE:BC) declared a quarterly dividend on Tuesday, October 15th,Zacks Dividends reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.42 per share on Friday, December 13th. This represents a $1.68 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, November 20th.

Brunswick has raised its dividend by an average of 17.4% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Brunswick has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brunswick to earn $5.23 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 32.1%.

Brunswick Trading Down 0.3 %

Shares of BC opened at $79.96 on Tuesday. The business has a 50-day moving average of $81.50 and a 200 day moving average of $78.80. Brunswick has a fifty-two week low of $69.05 and a fifty-two week high of $99.68. The firm has a market cap of $5.28 billion, a P/E ratio of 19.89 and a beta of 1.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97.

Insider Activity at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,969,225.83. The trade was a 1.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,940 shares of company stock worth $2,321,176. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BC shares. Jefferies Financial Group restated a “hold” rating and issued a $70.00 target price (down previously from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, July 29th. Robert W. Baird lowered their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Citigroup upped their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.23.

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.