Geode Capital Management LLC Cuts Position in Brunswick Co. (NYSE:BC)

Geode Capital Management LLC lessened its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,107,968 shares of the company's stock after selling 46,242 shares during the quarter. Geode Capital Management LLC owned about 1.68% of Brunswick worth $92,896,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in Brunswick by 78.6% in the third quarter. Barclays PLC now owns 118,189 shares of the company's stock valued at $9,907,000 after purchasing an additional 52,024 shares during the period. MML Investors Services LLC raised its stake in shares of Brunswick by 30.7% during the 3rd quarter. MML Investors Services LLC now owns 7,119 shares of the company's stock worth $597,000 after buying an additional 1,671 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Brunswick by 26.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 7,087 shares of the company's stock valued at $594,000 after buying an additional 1,484 shares during the period. Castleark Management LLC purchased a new stake in shares of Brunswick in the third quarter valued at approximately $3,743,000. Finally, Stadium Capital Management LLC grew its holdings in Brunswick by 25.5% during the third quarter. Stadium Capital Management LLC now owns 196,251 shares of the company's stock worth $16,450,000 after acquiring an additional 39,866 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Brunswick

In other news, Director Nancy E. Cooper sold 366 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the completion of the transaction, the director now owns 24,557 shares of the company's stock, valued at $1,969,225.83. This represents a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the transaction, the chief executive officer now owns 251,094 shares in the company, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,940 shares of company stock worth $2,321,176 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Brunswick Price Performance

Shares of BC traded down $0.09 during mid-day trading on Friday, reaching $66.75. 1,805,504 shares of the company's stock were exchanged, compared to its average volume of 696,633. Brunswick Co. has a 52-week low of $66.40 and a 52-week high of $99.68. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The company has a 50-day simple moving average of $79.76 and a two-hundred day simple moving average of $78.21. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 16.60 and a beta of 1.50.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.42 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.52%. Brunswick's dividend payout ratio (DPR) is presently 41.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup raised their target price on Brunswick from $92.00 to $101.00 and gave the company a "buy" rating in a report on Friday, September 27th. Benchmark reiterated a "buy" rating and issued a $100.00 price objective on shares of Brunswick in a research note on Friday, October 25th. Finally, B. Riley downgraded shares of Brunswick from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.54.

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.