Fidelity Management & Research Co recently announced the acquisition of new stake in Brunswick Corp. (NYSE:BC). The institutional investor has increased its shareholding in the Consumer Cyclical company by 190.22% to 2.67 million shares with purchase of 1.75 million shares. This fresh investment now brings its stake to 3.89% valued currently at $210.93 million. In addition, American Century Investment Manag raised its holdings by 9465.0 to 1.97 million shares. And Dimensional Fund Advisors LP has lifted its position by 14.75% or 0.24 million shares – to 1.87 million shares.
With over 0.45 million Brunswick Corp. (BC) shares trading Friday and a closing price of $97.89 on the day, the dollar volume was approximately $44.02 million. The shares have shown a positive half year performance of 18.74% and its price on 12/22/23 gained nearly 0.91%. Currently, there are 71.36M common shares owned by the public and among those 67.71M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for BC have a consensus price objective of $90.21. The analysts have set the share’s price value over the next 12 months at a high of $107.00 and a low of $70.00. The average price target is -8.51% below its recent price level and a downside to the estimated low will see the stock lose -39.84% over that period. But an upside of 8.51% will see the stock hit the forecast high price target while median target price for the stock is $90.00.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 225,894 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 117,841 shares.
The top 3 mutual fund holders in Brunswick Corp. are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 2.17 million shares of the company’s stock, all valued at over $171.28 million. The company bought an additional 2690.0 shares recently to bring their total holdings to about 3.16% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 382.0 shares to see its total holdings expand to 2.15 million shares valued at over $169.9 million and representing 3.13% of the shares outstanding. Vanguard Small Cap Index Fund bought 7875.0 shares to bring its total holdings to over 1.81 million shares at a value of $142.66 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.63% of the shares outstanding.
Shares of Brunswick Corp. (NYSE: BC) opened at $96.85, down -$0.16 from a prior closing price of $97.01. However, the script later moved the day high at 98.05, up 0.91%. The company’s stock has a 5-day price change of 2.84% and 23.10% over the past three months. BC shares are trading 35.81% year to date (YTD), with the 12-month market performance up to 35.66% higher. It has a 12-month low price of $66.47 and touched a high of $97.12 over the same period. BC has an average intraday trading volume of 706.29K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.59%, 25.21%, and 21.46% respectively.
Institutional ownership of Brunswick Corp. (NYSE: BC) shares accounts for 99.23% of the company’s 71.36M shares outstanding. Mutual fund holders own 5.08%, while other institutional holders and individual stakeholders account for 54.57% and 45.49% respectively.
It has a market capitalization of $6.74B and a beta (3y monthly) value of 1.54. The stock’s trailing 12-month PE ratio is 13.95, while the earnings-per-share (ttm) stands at $7.02. The company has a PEG of 0.93 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 1.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.04% over the week and 2.60% over the month.
Analysts forecast that Brunswick Corp. (BC) will achieve an EPS of $1.66 for the current quarter, $2.23 for the next quarter and $8.74 for 2024. The lowest estimate earnings-per-share for the quarter is $1.64 while analysts give the company a high EPS estimate of $1.7. Comparatively, EPS for the current quarter was $1.99 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.26%, and -3.32% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 40.83% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Brunswick Corp. (BC) as a “Strong Buy” at a consensus score of 1.83. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 6 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BC, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on December 18, 2023, with the firm’s price target at $88-$106.
