Sendero Wealth Management LLC Cuts Position in Brunswick Co. (NYSE:BC)

Sendero Wealth Management LLC lowered its stake in shares of Brunswick Co. (NYSE:BC) by 65.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,360 shares of the company’s stock after selling 25,188 shares during the period. Sendero Wealth Management LLC’s holdings in Brunswick were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BC. Massachusetts Financial Services Co. MA lifted its position in shares of Brunswick by 17.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares during the period. Dimensional Fund Advisors LP increased its stake in Brunswick by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock valued at $152,577,000 after purchasing an additional 144,416 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after purchasing an additional 102,780 shares during the last quarter. Victory Capital Management Inc. boosted its position in Brunswick by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after purchasing an additional 168,384 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Brunswick by 2.7% in the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock valued at $90,171,000 after purchasing an additional 28,781 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial cut their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Citigroup lifted their target price on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Benchmark reiterated a “buy” rating and issued a $100.00 price target on shares of Brunswick in a research report on Friday, October 25th. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus reduced their target price on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Insiders Place Their Bets

In other news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. This represents a 1.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction 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 transaction, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. The trade was a 8.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,940 shares of company stock valued at $2,321,176. Insiders own 0.81% of the company’s stock.

Brunswick Price Performance

BC stock opened at $67.35 on Thursday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 16.75 and a beta of 1.54. The stock’s fifty day simple moving average is $73.84 and its 200-day simple moving average is $76.99. Brunswick Co. has a 52-week low of $62.64 and a 52-week high of $96.65. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

About Brunswick

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.