Penserra Capital Management LLC Has $466,000 Stock Position in Brunswick Co. (NYSE:BC)

Penserra Capital Management LLC lifted its stake in Brunswick Co. (NYSE:BC) by 13.7% during the 3rd quarter, Holdings Channel reports. The firm owned 5,570 shares of the company’s stock after acquiring an additional 671 shares during the period. Penserra Capital Management LLC’s holdings in Brunswick were worth $466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Kingsview Wealth Management LLC boosted its position in shares of Brunswick by 4.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 98,885 shares of the company’s stock worth $8,289,000 after purchasing an additional 4,535 shares during the last quarter. Citigroup Inc. boosted its position in shares of Brunswick by 0.6% in the 3rd quarter. Citigroup Inc. now owns 326,629 shares of the company’s stock worth $27,378,000 after purchasing an additional 1,980 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Brunswick by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 701,269 shares of the company’s stock worth $58,780,000 after purchasing an additional 1,765 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after purchasing an additional 452,116 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Brunswick in the 3rd quarter worth $330,000. 99.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BC has been the topic of several recent analyst reports. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $95.00 to $88.00 in a report on Tuesday. Citigroup lifted their target price on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Benchmark reiterated a “buy” rating and set a $100.00 target price on shares of Brunswick in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.54.

Brunswick Stock Performance

Shares of Brunswick stock opened at $80.62 on Friday. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 20.05 and a beta of 1.51. The stock’s 50-day moving average is $81.87 and its 200-day moving average is $78.77. Brunswick Co. has a one year low of $69.05 and a one year high of $99.68. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s dividend payout ratio is currently 41.79%.

Insider Activity at Brunswick

In related news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,940 shares of company stock valued at $2,321,176. 0.81% of the stock is owned by insiders.

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.