Brunswick Co. (NYSE:BC) Short Interest Update

Brunswick Co. (NYSE:BC) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 3,740,000 shares, a drop of 6.3% from the October 31st total of 3,990,000 shares. Approximately 5.8% of the company’s shares are sold short. Based on an average trading volume of 566,300 shares, the short-interest ratio is currently 6.6 days.

Insider Activity

In other Brunswick news, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the transaction, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares in the company, valued at approximately $20,142,760.68. This trade represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,940 shares of company stock valued at $2,321,176. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Brunswick

A number of hedge funds have recently added to or reduced their stakes in BC. V Square Quantitative Management LLC acquired a new position in shares of Brunswick during the third quarter worth about $26,000. Avior Wealth Management LLC lifted its stake in shares of Brunswick by 1,073.7% during the 3rd quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after buying an additional 612 shares during the last quarter. Covestor Ltd increased its stake in shares of Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after purchasing an additional 843 shares during the period. GAMMA Investing LLC boosted its position in shares of Brunswick by 92.5% in the third quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock valued at $97,000 after acquiring an additional 555 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Brunswick by 47.0% in the second quarter. Fifth Third Bancorp now owns 1,511 shares of the company’s stock valued at $110,000 after buying an additional 483 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Brunswick Stock Performance

Brunswick stock traded down $0.40 during mid-day trading on Tuesday, hitting $79.51. 619,457 shares of the company’s stock traded hands, compared to its average volume of 692,702. Brunswick has a one year low of $69.05 and a one year high of $99.68. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The company has a market cap of $5.25 billion, a PE ratio of 19.88 and a beta of 1.50. The firm has a 50 day moving average price of $81.71 and a 200 day moving average price of $78.69.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 20th. Brunswick’s dividend payout ratio (DPR) is 41.79%.

Analysts Set New Price Targets

A number of research firms have recently commented on BC. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a research report on Tuesday, November 26th. Benchmark restated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Finally, Citigroup lifted their target price on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.54.

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.