Jennison Associates LLC Sells 416,983 Shares of Brunswick Co. (NYSE:BC)

Jennison Associates LLC trimmed its position in shares of Brunswick Co. (NYSE:BC - Free Report) by 66.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,265 shares of the company's stock after selling 416,983 shares during the period. Jennison Associates LLC owned 0.31% of Brunswick worth $17,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Brunswick by 0.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 26,731 shares of the company's stock worth $2,241,000 after buying an additional 145 shares during the period. Inspire Investing LLC grew its position in shares of Brunswick by 2.8% in the third quarter. Inspire Investing LLC now owns 5,545 shares of the company's stock valued at $465,000 after purchasing an additional 153 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Brunswick by 3.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,647 shares of the company's stock valued at $390,000 after purchasing an additional 174 shares during the period. Comerica Bank lifted its holdings in Brunswick by 0.6% during the 1st quarter. Comerica Bank now owns 35,548 shares of the company's stock worth $3,431,000 after purchasing an additional 205 shares in the last quarter. Finally, CWM LLC grew its holdings in Brunswick by 21.6% during the 3rd quarter. CWM LLC now owns 1,323 shares of the company's stock valued at $111,000 after buying an additional 235 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Nancy E. Cooper sold 366 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the transaction, the director now owns 24,557 shares of the company's stock, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the company's stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the completion of the transaction, the director now directly owns 19,218 shares of the company's stock, valued at approximately $1,540,130.52. This trade represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock valued at $2,321,176 in the last quarter. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Brunswick from $92.00 to $101.00 and gave the stock a "buy" rating in a 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. Robert W. Baird cut their price objective on Brunswick from $95.00 to $93.00 and set an "outperform" rating for the company in a report on Friday, July 26th. Northcoast Research raised shares of Brunswick from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Monday, July 29th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $70.00 target price (down from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Brunswick presently has an average rating of "Moderate Buy" and a consensus target price of $89.23.

Brunswick Stock Up 1.5 %

NYSE:BC traded up $1.24 during trading hours on Friday, reaching $82.37. 542,354 shares of the company traded hands, compared to its average volume of 507,071. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. The business's 50-day moving average price is $81.81 and its two-hundred day moving average price is $78.79. Brunswick Co. has a 1 year low of $69.05 and a 1 year high of $99.68. The stock has a market capitalization of $5.43 billion, a P/E ratio of 20.49 and a beta of 1.51.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.04%. Brunswick's dividend payout ratio is currently 41.79%.

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.