Formula Growth Ltd. Invests $2.24 Million in Brunswick Co. (NYSE:BC)

Formula Growth Ltd. purchased a new position in Brunswick Co. (NYSE:BC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,555 shares of the company's stock, valued at approximately $2,235,000. Formula Growth Ltd. owned approximately 0.05% of Brunswick at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BC. Armstrong Advisory Group Inc. bought a new position in Brunswick during the 4th quarter valued at about $39,000. Financial Perspectives Inc bought a new position in Brunswick during the fourth quarter valued at approximately $42,000. KBC Group NV boosted its holdings in Brunswick by 42.8% in the fourth quarter. KBC Group NV now owns 2,892 shares of the company's stock worth $187,000 after purchasing an additional 867 shares during the last quarter. Stevens Capital Management LP bought a new stake in Brunswick in the 4th quarter worth approximately $203,000. Finally, Sterling Capital Management LLC raised its stake in Brunswick by 52.0% during the 4th quarter. Sterling Capital Management LLC now owns 4,001 shares of the company's stock valued at $259,000 after buying an additional 1,369 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Brunswick

In related news, SVP Randall S. Altman sold 3,417 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the sale, the senior vice president now directly owns 26,683 shares of the company's stock, valued at $1,686,632.43. This represents a 11.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now owns 25,361 shares of the company's stock, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on BC shares. Stifel Nicolaus cut their price target on Brunswick from $95.00 to $86.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Morgan Stanley increased their target price on shares of Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Baird R W downgraded shares of Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. B. Riley upgraded shares of Brunswick to a "hold" rating in a research report on Wednesday, February 12th. Finally, DA Davidson upgraded shares of Brunswick to a "hold" rating in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $76.67.

Brunswick Price Performance

BC traded up $0.36 during trading hours on Wednesday, hitting $45.18. The company's stock had a trading volume of 1,944,020 shares, compared to its average volume of 764,023. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 23.78 and a beta of 1.42. The business's 50-day moving average price is $54.38 and its 200-day moving average price is $67.25. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. Brunswick Co. has a 12 month low of $41.00 and a 12 month high of $87.65.

Brunswick (NYSE:BC - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same period in the prior year, the firm posted $1.45 EPS. Sell-side analysts expect that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a $0.43 dividend. This is a boost from Brunswick's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.81%. Brunswick's payout ratio is 90.53%.

Brunswick 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.