Brunswick Corporation $BC Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Brunswick Corporation (NYSE:BC) by 23.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,009,379 shares of the company’s stock after selling 312,191 shares during the quarter. JPMorgan Chase & Co. owned 1.55% of Brunswick worth $63,833,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its position in shares of Brunswick by 50.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after acquiring an additional 166 shares in the last quarter. Inspire Investing LLC grew its position in shares of Brunswick by 2.2% during the third quarter. Inspire Investing LLC now owns 8,869 shares of the company’s stock worth $561,000 after acquiring an additional 188 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Brunswick by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 19,436 shares of the company’s stock valued at $1,229,000 after acquiring an additional 201 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Brunswick by 31.9% in the second quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $53,000 after buying an additional 232 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Brunswick by 1.1% during the second quarter. Daiwa Securities Group Inc. now owns 23,215 shares of the company’s stock worth $1,282,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BC. Jefferies Financial Group set a $115.00 price target on Brunswick and gave the company a “buy” rating in a research report on Tuesday, January 6th. Roth Mkm restated a “buy” rating and set a $94.00 price target (up from $79.00) on shares of Brunswick in a research note on Friday, January 30th. Wall Street Zen cut shares of Brunswick from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Loop Capital assumed coverage on shares of Brunswick in a research report on Monday, December 22nd. They set a “hold” rating and a $74.00 price objective for the company. Finally, Morgan Stanley set a $82.00 target price on shares of Brunswick in a report on Tuesday, February 17th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.00.

Insider Buying and Selling at Brunswick

In other Brunswick news, VP Christopher F. Dekker sold 4,981 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the transaction, the vice president owned 39,740 shares of the company’s stock, valued at $3,472,481.20. This represents a 11.14% 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 38,266 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the transaction, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.85% of the stock is owned by corporate insiders.

Brunswick Price Performance

BC opened at $83.73 on Wednesday. The stock has a market cap of $5.43 billion, a P/E ratio of -39.49 and a beta of 1.39. Brunswick Corporation has a 12 month low of $41.00 and a 12 month high of $90.25. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $83.24 and a 200 day simple moving average of $71.68.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, research analysts expect that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Monday, February 23rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.1%. This is a boost from Brunswick’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, February 23rd. Brunswick’s dividend payout ratio is currently -83.02%.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.