FMR LLC lowered its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 27.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,154,666 shares of the company's stock after selling 1,599,382 shares during the period. FMR LLC owned 6.30% of Brunswick worth $348,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of BC. V Square Quantitative Management LLC purchased a new stake in shares of Brunswick in the third quarter worth about $26,000. Avior Wealth Management LLC raised its holdings 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 acquiring an additional 612 shares in the last quarter. Covestor Ltd boosted its position in shares of Brunswick by 669.0% during the 3rd quarter. Covestor Ltd now owns 969 shares of the company's stock valued at $81,000 after acquiring an additional 843 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Brunswick by 92.5% during the 3rd 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 last quarter. Finally, Fifth Third Bancorp increased its position in Brunswick by 47.0% in the second quarter. Fifth Third Bancorp now owns 1,511 shares of the company's stock worth $110,000 after purchasing an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.
Insider Transactions at Brunswick
In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the completion of the sale, the chief executive officer now directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nancy E. Cooper sold 366 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the transaction, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,940 shares of company stock worth $2,321,176. Insiders own 0.81% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Citigroup increased their price objective on shares of Brunswick from $92.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Benchmark reaffirmed a "buy" rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Finally, B. Riley lowered Brunswick from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Brunswick presently has an average rating of "Moderate Buy" and a consensus price target of $88.54.
Check Out Our Latest Analysis on Brunswick
Brunswick Trading Down 0.1 %
BC traded down $0.11 during trading hours on Friday, reaching $80.51. 207,008 shares of the company's stock traded hands, compared to its average volume of 477,053. The firm has a 50-day moving average price of $81.74 and a 200 day moving average price of $78.73. The firm has a market capitalization of $5.31 billion, a PE ratio of 20.03 and a beta of 1.51. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. Brunswick Co. has a 52-week low of $69.05 and a 52-week high of $99.68.
Brunswick Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick's dividend payout ratio is currently 41.79%.
About Brunswick
(
Free Report)
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.
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