Allianz Asset Management GmbH Acquires 5,585 Shares of 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 grew its position in Brunswick Corporation (NYSE:BC - Free Report) by 125.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,047 shares of the company's stock after acquiring 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Peterson Wealth Services increased its stake in Brunswick by 2.5% in the 1st 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. Markel Group Inc. grew its holdings in Brunswick by 96.7% during the 1st quarter. Markel Group Inc. now owns 29,500 shares of the company's stock worth $1,589,000 after acquiring an additional 14,500 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in Brunswick by 50.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 6,329 shares of the company's stock worth $341,000 after acquiring an additional 2,113 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Brunswick by 17.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,439,526 shares of the company's stock worth $185,218,000 after acquiring an additional 516,970 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Brunswick by 451.0% during the 1st quarter. Signaturefd LLC now owns 810 shares of the company's stock worth $44,000 after acquiring an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Brunswick Trading Down 1.7%

Shares of NYSE:BC traded down $1.03 during trading on Wednesday, reaching $58.29. 214,359 shares of the stock were exchanged, compared to its average volume of 968,727. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.68. Brunswick Corporation has a 12-month low of $41.00 and a 12-month high of $87.65. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 94.01 and a beta of 1.28. The firm's 50-day moving average price is $57.48 and its 200 day moving average price is $56.23.

Brunswick (NYSE:BC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.89 by $0.27. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.25 billion. Brunswick had a return on equity of 10.73% and a net margin of 0.82%. Brunswick's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 EPS. On average, sell-side analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 20th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Brunswick's dividend payout ratio is currently 277.42%.

Analyst Upgrades and Downgrades

BC has been the subject of several recent research reports. Citigroup reaffirmed a "buy" rating and set a $68.00 target price (up from $61.00) on shares of Brunswick in a report on Monday, June 16th. Robert W. Baird lifted their target price on shares of Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Truist Financial cut their target price on shares of Brunswick from $85.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 14th. BMO Capital Markets cut their target price on shares of Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Roth Capital boosted their price target on shares of Brunswick from $60.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.25.

Insider Activity

In related news, VP Christopher F. Dekker sold 2,092 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the completion of the transaction, the vice president directly owned 44,466 shares in the company, valued at $2,599,927.02. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.85% of the company's stock.

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.