Jennison Associates LLC Has $78.02 Million Holdings in Brunswick Co. (NYSE:BC)

Jennison Associates LLC raised its position in Brunswick Co. (NYSE:BC) by 71.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 806,396 shares of the company’s stock after acquiring an additional 334,851 shares during the period. Jennison Associates LLC owned approximately 1.15% of Brunswick worth $78,019,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BC. Valley National Advisers Inc. purchased a new position in shares of Brunswick during the third quarter valued at approximately $25,000. Fifth Third Bancorp boosted its position in shares of Brunswick by 17.9% during the third quarter. Fifth Third Bancorp now owns 1,042 shares of the company’s stock valued at $82,000 after buying an additional 158 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Brunswick by 40.6% during the third quarter. FinTrust Capital Advisors LLC now owns 1,101 shares of the company’s stock valued at $87,000 after buying an additional 318 shares during the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of Brunswick during the third quarter valued at approximately $163,000. Finally, Trust Point Inc. purchased a new position in shares of Brunswick during the fourth quarter valued at approximately $212,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Insiders Place Their Bets

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares in the company, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Ryan M. Gwillim sold 9,036 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the transaction, the chief financial officer now owns 28,966 shares of the company’s stock, valued at approximately $2,522,938.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the transaction, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,696 shares of company stock worth $4,574,199. 0.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James cut Brunswick from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 4th. B. Riley raised Brunswick from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $100.00 to $108.00 in a research report on Tuesday, February 20th. Stifel Nicolaus boosted their price objective on Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Truist Financial cut their price objective on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, BNP Paribas reissued a “neutral” rating and issued a $82.00 price objective (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.08.

Brunswick Stock Up 1.2 %

Shares of NYSE BC opened at $84.91 on Tuesday. The stock has a market capitalization of $5.84 billion, a PE ratio of 14.27 and a beta of 1.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. The business’s fifty day moving average price is $89.28 and its 200-day moving average price is $84.70. Brunswick Co. has a one year low of $66.47 and a one year high of $99.68.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, February 1st. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.21). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brunswick had a return on equity of 29.78% and a net margin of 6.57%. Brunswick’s revenue was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.99 earnings per share. On average, equities research analysts anticipate that Brunswick Co. will post 7.5 EPS for the current year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 annualized dividend and a yield of 1.98%. This is a boost from Brunswick’s previous quarterly dividend of $0.40. Brunswick’s dividend payout ratio (DPR) is 28.24%.

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.