JPMorgan Chase & Co. Acquires 102,780 Shares of Brunswick Co. (NYSE:BC)

JPMorgan Chase & Co. lifted its holdings in shares of Brunswick Co. (NYSE:BC) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,487,773 shares of the company’s stock after acquiring an additional 102,780 shares during the period. JPMorgan Chase & Co.’s holdings in Brunswick were worth $124,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. increased its position in shares of Brunswick by 7.6% during the 2nd quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock valued at $16,087,000 after purchasing an additional 15,602 shares during the last quarter. Edgestream Partners L.P. bought a new position in Brunswick during the second quarter valued at about $8,289,000. Quest Partners LLC grew its position in Brunswick by 99,353.8% during the second quarter. Quest Partners LLC now owns 12,929 shares of the company’s stock valued at $941,000 after buying an additional 12,916 shares during the period. American Century Companies Inc. increased its holdings in Brunswick by 4.1% during the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after buying an additional 57,605 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Brunswick by 20.8% in the second quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock worth $2,925,000 after acquiring an additional 6,922 shares during the period. 99.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Joseph W. Mcclanathan sold 4,745 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.14, for a total value of $380,264.30. Following the transaction, the director now directly owns 19,218 shares in the company, valued at approximately $1,540,130.52. This represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 28,940 shares of company stock worth $2,321,176 in the last three months. 0.81% of the stock is currently owned by corporate insiders.

Brunswick Stock Up 0.3 %

BC stock opened at $64.68 on Thursday. Brunswick Co. has a twelve month low of $63.08 and a twelve month high of $97.03. The firm has a market capitalization of $4.27 billion, a PE ratio of 16.09 and a beta of 1.50. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The stock has a 50-day simple moving average of $76.76 and a two-hundred day simple moving average of $77.49.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick’s dividend payout ratio (DPR) is presently 41.79%.

Wall Street Analysts Forecast Growth

BC has been the subject of several research analyst reports. B. Riley lowered shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $95.00 to $88.00 in a research note on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Finally, Citigroup upped their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Brunswick has an average rating of “Moderate Buy” and a consensus price target of $88.54.

Brunswick 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.