JPMorgan Chase & Co. Acquires 269,413 Shares of Brunswick Co. (NYSE:BC)

JPMorgan Chase & Co. increased its position in Brunswick Co. (NYSE:BC - Free Report) by 18.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,757,186 shares of the company's stock after buying an additional 269,413 shares during the quarter. JPMorgan Chase & Co. owned 2.66% of Brunswick worth $113,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BC. Bank of Montreal Can increased its holdings in shares of Brunswick by 8.5% in the third quarter. Bank of Montreal Can now owns 43,592 shares of the company's stock worth $3,685,000 after buying an additional 3,399 shares during the period. BNP Paribas Financial Markets grew its position in Brunswick by 134.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,713 shares of the company's stock worth $563,000 after acquiring an additional 3,850 shares during the last quarter. Captrust Financial Advisors increased its stake in Brunswick by 13.6% in the 3rd quarter. Captrust Financial Advisors now owns 10,422 shares of the company's stock worth $874,000 after purchasing an additional 1,247 shares during the period. Paloma Partners Management Co bought a new stake in Brunswick in the third quarter valued at approximately $313,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Brunswick by 1,120.5% during the third quarter. Janus Henderson Group PLC now owns 354,631 shares of the company's stock valued at $29,725,000 after purchasing an additional 325,574 shares during the period. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Down 3.3 %

BC traded down $1.56 during trading on Monday, reaching $45.13. The stock had a trading volume of 2,139,623 shares, compared to its average volume of 727,372. Brunswick Co. has a one year low of $42.83 and a one year high of $94.70. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 23.75 and a beta of 1.42. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The stock's 50 day moving average is $60.18 and its two-hundred day moving average is $70.53.

Brunswick (NYSE:BC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $1.45 earnings per share. As a group, analysts expect that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BC. B. Riley raised shares of Brunswick to a "hold" rating in a research note on Wednesday, February 12th. Roth Mkm lowered their price objective on shares of Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 24th. Morgan Stanley raised their target price on Brunswick from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Truist Financial lowered their price target on Brunswick from $90.00 to $85.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Finally, Benchmark cut their price objective on Brunswick from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Brunswick has an average rating of "Hold" and a consensus price target of $79.00.

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.