Brunswick (NYSE:BC) Shares Cross Above 200 Day Moving Average – Here’s Why
by Jessica Moore · The Cerbat GemBrunswick Corporation (NYSE:BC – Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $73.65 and traded as high as $74.37. Brunswick shares last traded at $73.4770, with a volume of 533,344 shares changing hands.
Analyst Upgrades and Downgrades
BC has been the topic of a number of analyst reports. Benchmark boosted their price objective on shares of Brunswick from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Morgan Stanley set a $82.00 target price on Brunswick in a research note on Tuesday, February 17th. Wall Street Zen upgraded Brunswick from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. B. Riley Financial reaffirmed a “neutral” rating and set a $80.00 price target (up from $70.00) on shares of Brunswick in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brunswick in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.57.
Get Our Latest Stock Report on Brunswick
Brunswick Stock Up 1.3%
The company’s fifty day simple moving average is $78.25 and its 200 day simple moving average is $73.70. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $5.08 billion, a P/E ratio of -36.79 and a beta of 1.38.
Brunswick (NYSE:BC – Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. Brunswick’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts expect that Brunswick Corporation will post 4.19 EPS for the current year.
Brunswick Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. This is an increase from Brunswick’s previous quarterly dividend of $0.43. Brunswick’s dividend payout ratio is currently -83.02%.
Insider Buying and Selling
In related news, CEO David M. Foulkes sold 38,266 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total value of $3,312,304.96. Following the sale, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction on Friday, February 6th. The stock was 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 approximately $3,472,481.20. This trade represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.99% of the company’s stock.
Institutional Trading of Brunswick
A number of hedge funds and other institutional investors have recently modified their holdings of BC. First Horizon Corp bought a new stake in Brunswick during the third quarter worth about $26,000. Farther Finance Advisors LLC increased its stake in shares of Brunswick by 72.3% during the fourth 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 purchased a new position in shares of Brunswick during the fourth quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its position in shares of Brunswick by 50.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after purchasing an additional 166 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Brunswick by 38.4% in the 4th quarter. Quarry LP now owns 440 shares of the company’s stock worth $33,000 after purchasing an additional 122 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.
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.