Oppenheimer Asset Management Inc. Boosts Holdings in Brunswick Corporation $BC

Oppenheimer Asset Management Inc. lifted its stake in shares of Brunswick Corporation (NYSE:BC) by 86.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,760 shares of the company’s stock after acquiring an additional 32,350 shares during the period. Oppenheimer Asset Management Inc. owned 0.11% of Brunswick worth $4,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Brunswick by 10.7% during the first quarter. Royal Bank of Canada now owns 149,000 shares of the company’s stock worth $8,024,000 after purchasing an additional 14,395 shares during the period. AQR Capital Management LLC increased its holdings in shares of Brunswick by 133.6% during the 1st quarter. AQR Capital Management LLC now owns 77,326 shares of the company’s stock worth $4,076,000 after buying an additional 44,228 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Brunswick by 142.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 346,503 shares of the company’s stock worth $18,659,000 after buying an additional 203,838 shares during the last quarter. United Services Automobile Association acquired a new position in Brunswick in the first quarter valued at $214,000. Finally, Geneos Wealth Management Inc. grew its position in Brunswick by 477.0% during the first quarter. Geneos Wealth Management Inc. now owns 727 shares of the company’s stock valued at $39,000 after acquiring an additional 601 shares during the period. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of the company’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 value 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the transaction, the vice president owned 39,740 shares of the company’s stock, valued at approximately $3,472,481.20. This trade represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

Brunswick Price Performance

Shares of BC stock opened at $86.72 on Thursday. The firm has a fifty day simple moving average of $80.72 and a 200-day simple moving average of $69.82. The company has a market capitalization of $5.64 billion, a PE ratio of -40.91 and a beta of 1.39. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $89.61. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. Equities research analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BC. Griffin Securities set a $76.00 price target on Brunswick in a research note on Monday, February 2nd. Citigroup increased their target price on shares of Brunswick from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Morgan Stanley set a $81.00 price target on shares of Brunswick in a research report on Friday, January 16th. DA Davidson increased their price objective on shares of Brunswick from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, B. Riley Financial reissued a “neutral” rating and issued a $80.00 target price (up previously from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $83.93.

Brunswick 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.