Brunswick Co. (NYSE:BC) Stake Cut by Swiss National Bank

Swiss National Bank decreased its holdings in shares of Brunswick Co. (NYSE:BC) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 132,000 shares of the company’s stock after selling 1,600 shares during the quarter. Swiss National Bank’s holdings in Brunswick were worth $11,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Quadrature Capital Ltd raised its stake in Brunswick by 24.0% during the first quarter. Quadrature Capital Ltd now owns 10,397 shares of the company’s stock worth $1,004,000 after acquiring an additional 2,012 shares during the period. Kennedy Capital Management LLC raised its position in shares of Brunswick by 12.0% during the 1st quarter. Kennedy Capital Management LLC now owns 117,742 shares of the company’s stock worth $11,364,000 after purchasing an additional 12,618 shares during the period. Tidal Investments LLC lifted its holdings in shares of Brunswick by 102.6% in the 1st quarter. Tidal Investments LLC now owns 16,236 shares of the company’s stock worth $1,567,000 after purchasing an additional 8,224 shares during the last quarter. Comerica Bank boosted its position in Brunswick by 0.6% during the 1st quarter. Comerica Bank now owns 35,548 shares of the company’s stock valued at $3,431,000 after purchasing an additional 205 shares during the period. Finally, Garner Asset Management Corp grew its stake in Brunswick by 1.4% during the 1st quarter. Garner Asset Management Corp now owns 57,747 shares of the company’s stock worth $5,574,000 after buying an additional 801 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Price Performance

NYSE:BC opened at $82.37 on Friday. 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 business’s 50-day moving average price is $81.81 and its 200 day moving average price is $78.79. Brunswick Co. has a 52-week low of $69.05 and a 52-week high of $99.68. The firm has a market cap of $5.43 billion, a P/E ratio of 20.49 and a beta of 1.51.

Brunswick Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, November 20th. Brunswick’s payout ratio is 41.79%.

Insider Buying and Selling

In related news, Director Joseph W. Mcclanathan sold 4,745 shares of Brunswick stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the transaction, the director now owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. This trade represents a 19.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the sale, the director now directly owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,940 shares of company stock worth $2,321,176. Corporate insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BC shares. Northcoast Research raised shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Monday, July 29th. Benchmark restated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Finally, Citigroup lifted their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Brunswick presently has an average rating of “Moderate Buy” and an average target price of $89.23.

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.