Short Interest in Brunswick Corporation (NYSE:BC) Increases By 39.2%
by Danessa Lincoln · The Markets DailyBrunswick Corporation (NYSE:BC – Get Free Report) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,757,899 shares, a growth of 39.2% from the February 12th total of 2,699,678 shares. Currently, 5.8% of the company’s shares are sold short. Based on an average daily volume of 1,048,227 shares, the short-interest ratio is presently 3.6 days. Based on an average daily volume of 1,048,227 shares, the short-interest ratio is presently 3.6 days. Currently, 5.8% of the company’s shares are sold short.
Brunswick Trading Down 0.1%
Shares of BC stock traded down $0.09 during mid-day trading on Friday, reaching $68.90. The company’s stock had a trading volume of 779,445 shares, compared to its average volume of 1,095,632. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $4.47 billion, a PE ratio of -32.50 and a beta of 1.39. The company’s 50 day simple moving average is $83.15 and its 200-day simple moving average is $72.65. Brunswick has a 12-month low of $41.00 and a 12-month high of $90.25.
Brunswick (NYSE:BC – Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. On average, research analysts predict that Brunswick will post 4.19 EPS for the current fiscal year.
Brunswick Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, February 23rd. This is an increase from Brunswick’s previous quarterly dividend of $0.43. Brunswick’s dividend payout ratio (DPR) is -83.02%.
Insider Transactions at Brunswick
In other news, VP Christopher F. Dekker sold 4,981 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the completion of the transaction, the vice president owned 39,740 shares of the company’s stock, valued at $3,472,481.20. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David M. Foulkes sold 38,266 shares of Brunswick stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at $23,472,388.64. The trade was a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.81% of the company’s stock.
Hedge Funds Weigh In On Brunswick
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Corp bought a new position in Brunswick during the 3rd quarter valued at $26,000. Farther Finance Advisors LLC raised its stake in shares of Brunswick by 72.3% in the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Brunswick in the 4th quarter valued at about $30,000. Jones Financial Companies Lllp lifted its position in shares of Brunswick by 50.6% during the third quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after purchasing an additional 166 shares during the last quarter. Finally, Quarry LP lifted its position in shares of Brunswick by 38.4% during the fourth quarter. Quarry LP now owns 440 shares of the company’s stock worth $33,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Analysts Set New Price Targets
BC has been the subject of several research reports. Texas Capital raised shares of Brunswick from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Griffin Securities set a $76.00 target price on Brunswick in a research report on Monday, February 2nd. Roth Mkm reiterated a “buy” rating and issued a $94.00 target price (up from $79.00) on shares of Brunswick in a report on Friday, January 30th. Jefferies Financial Group set a $115.00 price target on Brunswick and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Benchmark raised their price objective on Brunswick from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.00.
Check Out Our Latest Stock Analysis on BC
About Brunswick
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.