Allianz Asset Management GmbH Increases Stock Holdings in Brunswick Corporation (NYSE:BC)

Key Points

• Allianz Asset Management GmbH increased its holdings in Brunswick Corporation (NYSE:BC) by 125.2%, acquiring a total of 10,047 shares valued at $541,000 after purchasing an additional 5,585 shares in the first quarter.
• Brunswick Corporation reported earnings of $1.16 per share, exceeding analyst expectations of $0.89, with a quarterly revenue of $1.45 billion, which also surpassed predictions.
• The company declared a quarterly dividend of $0.43 per share with a yield of 3.0%, while its dividend payout ratio stands at a notably high 277.42%.

Allianz Asset Management GmbH lifted its position in Brunswick Corporation (NYSE:BC - Free Report) by 125.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,047 shares of the company's stock after purchasing an additional 5,585 shares during the quarter. Allianz Asset Management GmbH's holdings in Brunswick were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in Brunswick by 0.6% during the fourth quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock worth $1,813,000 after buying an additional 160 shares during the period. Fifth Third Bancorp boosted its stake in Brunswick by 33.3% during the first quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock worth $58,000 after buying an additional 269 shares during the period. Peterson Wealth Services boosted its stake in Brunswick by 2.5% during the first quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock worth $732,000 after buying an additional 331 shares during the period. Snowden Capital Advisors LLC boosted its stake in Brunswick by 6.4% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock worth $407,000 after buying an additional 378 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Brunswick by 59.3% during the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company's stock worth $69,000 after buying an additional 475 shares during the period. Hedge funds and other institutional investors own 99.34% of the company's stock.

Brunswick Stock Down 2.9%

Shares of NYSE:BC opened at $56.62 on Friday. The firm's 50 day moving average price is $57.14 and its 200 day moving average price is $56.42. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 91.32 and a beta of 1.27. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The company has a quick ratio of 0.70, a current ratio of 1.68 and a debt-to-equity ratio of 1.10.

Brunswick (NYSE:BC - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.27. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.25 billion. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The firm's revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 earnings per share. As a group, equities research analysts predict that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.72 dividend on an annualized basis and a yield of 3.0%. Brunswick's dividend payout ratio (DPR) is presently 277.42%.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

BC has been the subject of several research analyst reports. Robert W. Baird increased their target price on shares of Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Benchmark assumed coverage on shares of Brunswick in a research note on Monday, April 28th. They set a "buy" rating and a $70.00 target price for the company. Truist Financial lowered their price objective on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup reissued a "buy" rating and issued a $68.00 price objective (up previously from $61.00) on shares of Brunswick in a research note on Monday, June 16th. Finally, Roth Capital raised their price objective on shares of Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Brunswick has a consensus rating of "Moderate Buy" and a consensus price target of $68.25.

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.

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