JPMorgan Chase & Co. Sells 312,191 Shares of Brunswick Corporation $BC

JPMorgan Chase & Co. decreased its stake in Brunswick Corporation (NYSE:BC) by 23.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,009,379 shares of the company’s stock after selling 312,191 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brunswick were worth $63,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Corp acquired a new position in Brunswick during the third quarter valued at approximately $26,000. Jones Financial Companies Lllp raised its stake in shares of Brunswick by 50.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after purchasing an additional 166 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Brunswick during the 3rd quarter worth approximately $37,000. Quent Capital LLC acquired a new stake in shares of Brunswick in the 3rd quarter valued at approximately $38,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Brunswick by 103.5% in the second quarter. Parkside Financial Bank & Trust now owns 702 shares of the company’s stock valued at $39,000 after buying an additional 357 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BC shares. Roth Mkm reaffirmed a “buy” rating and set a $94.00 price target (up from $79.00) on shares of Brunswick in a research report on Friday, January 30th. Seaport Research Partners upgraded shares of Brunswick to a “strong-buy” rating in a research note on Monday, December 8th. Loop Capital started coverage on shares of Brunswick in a research note on Monday, December 22nd. They issued a “hold” rating and a $74.00 target price for the company. Benchmark boosted their price target on Brunswick from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $85.00 price objective on Brunswick in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $84.00.

Brunswick Stock Performance

Shares of NYSE BC opened at $83.73 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.44 and a quick ratio of 0.61. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of -39.49 and a beta of 1.39. The stock’s fifty day moving average price is $83.24 and its two-hundred day moving average price is $71.68. Brunswick Corporation has a one year low of $41.00 and a one year high of $90.25.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. Brunswick’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities analysts forecast that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Monday, February 23rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $1.76 annualized dividend and a yield of 2.1%. This is a boost from Brunswick’s previous quarterly dividend of $0.43. Brunswick’s payout ratio is presently -83.02%.

Insiders Place Their Bets

In related news, VP Christopher F. Dekker sold 4,981 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the completion of the sale, the vice president owned 39,740 shares of the company’s stock, valued at $3,472,481.20. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Foulkes sold 38,266 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the transaction, the chief executive officer directly owned 271,169 shares in the company, valued at approximately $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.85% of the company’s stock.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.