Brunswick Co. (NYSE:BC) Shares Acquired by Garner Asset Management Corp

Garner Asset Management Corp raised its stake in shares of Brunswick Co. (NYSE:BC) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,662 shares of the company’s stock after buying an additional 2,915 shares during the period. Brunswick makes up 2.1% of Garner Asset Management Corp’s portfolio, making the stock its 7th biggest position. Garner Asset Management Corp owned about 0.09% of Brunswick worth $4,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BC. Baillie Gifford & Co. bought a new position in Brunswick during the first quarter valued at about $124,840,000. Norges Bank acquired a new stake in Brunswick during the fourth quarter valued at approximately $65,105,000. Lord Abbett & CO. LLC bought a new stake in Brunswick during the first quarter worth approximately $38,655,000. Swedbank AB acquired a new position in Brunswick in the first quarter worth approximately $19,304,000. Finally, Vanguard Group Inc. increased its holdings in shares of Brunswick by 2.3% in the first quarter. Vanguard Group Inc. now owns 7,266,170 shares of the company’s stock valued at $701,331,000 after buying an additional 160,531 shares in the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Price Performance

Shares of BC stock opened at $82.29 on Thursday. The stock’s fifty day moving average is $77.65 and its 200-day moving average is $80.88. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.75 and a current ratio of 1.70. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $99.68. The stock has a market capitalization of $5.56 billion, a PE ratio of 15.30 and a beta of 1.51.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.10). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.55 billion. Brunswick had a net margin of 5.92% and a return on equity of 23.46%. Brunswick’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period last year, the company earned $2.35 earnings per share. Equities research analysts expect that Brunswick Co. will post 5.26 EPS for the current fiscal year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.04%. The ex-dividend date was Wednesday, August 21st. Brunswick’s payout ratio is 31.23%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Roth Mkm reissued a “buy” rating and set a $94.00 price objective on shares of Brunswick in a research note on Thursday, July 25th. Robert W. Baird reduced their price objective on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $70.00 price target (down previously from $115.00) on shares of Brunswick in a report on Friday, July 26th. Northcoast Research upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their target price on Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.21.

Insider Transactions at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 358 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.34, for a total value of $29,119.72. Following the sale, the director now directly owns 23,877 shares in the company, valued at $1,942,155.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.81% of the company’s stock.

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.