Brunswick Co. (NYSE:BC) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in Brunswick Co. (NYSE:BC) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,288 shares of the company’s stock after buying an additional 879 shares during the period. QRG Capital Management Inc.’s holdings in Brunswick were worth $1,312,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after buying an additional 452,116 shares during the period. JPMorgan Chase & Co. raised its stake in Brunswick by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after acquiring an additional 102,780 shares in the last quarter. Victory Capital Management Inc. raised its stake in Brunswick by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after acquiring an additional 168,384 shares in the last quarter. Principal Financial Group Inc. boosted its position in Brunswick by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after acquiring an additional 28,781 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Brunswick by 16.7% in the fourth quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company’s stock worth $49,578,000 after purchasing an additional 109,728 shares in the last quarter. 99.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BC. Morgan Stanley lifted their price objective on shares of Brunswick from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Benchmark dropped their price target on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Truist Financial reduced their price target on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Roth Mkm lowered their price objective on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, DA Davidson cut their target price on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.62.

Brunswick Stock Performance

BC opened at $58.96 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The firm has a market cap of $3.88 billion, a PE ratio of 31.03 and a beta of 1.54. The business has a fifty day simple moving average of $65.53 and a 200-day simple moving average of $74.57. Brunswick Co. has a fifty-two week low of $58.61 and a fifty-two week high of $96.65.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same period last year, the business posted $1.45 earnings per share. As a group, equities analysts predict that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. Brunswick’s payout ratio is currently 90.53%.

Insider Activity at Brunswick

In other Brunswick news, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at $1,686,632.43. The trade was a 11.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total transaction of $28,426.45. Following the completion of the sale, the director now directly owns 25,361 shares of the company’s stock, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Brunswick Company Profile

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.