Short Interest in Brunswick Co. (NYSE:BC) Decreases By 9.0%

by · The Markets Daily

Brunswick Co. (NYSE:BC – Get Free Report) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 4,760,000 shares, a drop of 9.0% from the September 15th total of 5,230,000 shares. Based on an average trading volume of 700,800 shares, the days-to-cover ratio is currently 6.8 days. Currently, 7.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BC shares. Robert W. Baird dropped their target price on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Roth Mkm reiterated a “buy” rating and issued a $94.00 target price on shares of Brunswick in a research report on Thursday, July 25th. Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, July 26th. Truist Financial reduced their price objective on Brunswick from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, B. Riley dropped their target price on shares of Brunswick from $108.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and a consensus target price of $89.23.

Get Our Latest Report on Brunswick

Brunswick Stock Performance

NYSE BC traded up $0.28 on Thursday, hitting $84.17. The stock had a trading volume of 569,314 shares, compared to its average volume of 714,082. The company’s 50-day moving average is $79.70 and its two-hundred day moving average is $79.76. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 15.64 and a beta of 1.51. The company has a quick ratio of 0.75, a current ratio of 1.70 and a debt-to-equity ratio of 1.18. Brunswick has a one year low of $66.47 and a one year high of $99.68.

Brunswick (NYSE:BC – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.10). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a return on equity of 23.46% and a net margin of 5.92%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. On average, analysts expect that Brunswick will post 5.26 earnings per share for the current year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s dividend payout ratio is currently 31.23%.

Insider Buying and Selling at Brunswick

In related news, Director Nancy E. Cooper sold 358 shares of Brunswick stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total transaction of $29,119.72. Following the sale, the director now owns 23,877 shares of the company’s stock, valued at $1,942,155.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brunswick

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Brunswick by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock valued at $701,331,000 after purchasing an additional 160,531 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Brunswick by 2.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock valued at $191,964,000 after buying an additional 58,583 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Brunswick by 88.0% during the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after buying an additional 1,137,568 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Brunswick by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after acquiring an additional 144,416 shares during the period. Finally, American Century Companies Inc. raised its position in Brunswick by 4.1% in the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after acquiring an additional 57,605 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Brunswick Company Profile

(Get Free Report)

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.

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