JPMorgan Chase & Co. Increases Stake in Brunswick Co. (BC)
JPMorgan Chase & Co. increased its holdings in Brunswick Co. (NYSE:BC) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,928,462 shares of the company’s stock after purchasing an additional 120,485 shares during the period. JPMorgan Chase & Co. owned approximately 3.34% of Brunswick worth $162,382,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Aspen Investment Management Inc boosted its stake in shares of Brunswick by 0.9% in the 2nd quarter. Aspen Investment Management Inc now owns 5,420 shares of the company’s stock valued at $340,000 after purchasing an additional 50 shares in the last quarter. Advisor Group Inc. raised its holdings in Brunswick by 2.7% during the 2nd quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock valued at $202,000 after buying an additional 87 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Brunswick by 1.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,180 shares of the company’s stock valued at $450,000 after buying an additional 98 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Brunswick by 2.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock valued at $285,000 after buying an additional 106 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Brunswick by 1.5% during the 2nd quarter. HighTower Advisors LLC now owns 8,107 shares of the company’s stock valued at $509,000 after buying an additional 122 shares during the last quarter. 92.23% of the stock is owned by institutional investors.
Brunswick Co. (NYSE BC) opened at $54.70 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 0.95. Brunswick Co. has a 1-year low of $48.04 and a 1-year high of $63.82. The company has a market cap of $4,853.63, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 0.88 and a beta of 1.90.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 20th. This is a positive change from Brunswick’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.39%. Brunswick’s dividend payout ratio is 24.52%.
A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered their price target on shares of Brunswick from $68.00 to $62.00 and set an “outperform” rating for the company in a report on Friday, October 27th. KeyCorp reiterated a “buy” rating and set a $62.00 price target on shares of Brunswick in a report on Thursday, August 31st. Aegis reiterated a “buy” rating and set a $73.00 price target on shares of Brunswick in a report on Thursday, August 17th. ValuEngine lowered shares of Brunswick from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Robert W. Baird reiterated a “buy” rating and set a $68.00 price target on shares of Brunswick in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Brunswick presently has a consensus rating of “Buy” and a consensus price target of $62.50.
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Brunswick Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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