Baillie Gifford & Co. Has $124.59 Million Stake in Brunswick Corporation $BC

Key Points

• Baillie Gifford & Co. trimmed its Brunswick position by 7.3% to 1,678,211 shares, now worth $124.59 million and representing 2.58% of the company amid very high institutional ownership (99.34%).
• Insider selling occurred recently: CEO David M. Foulkes sold 38,266 shares for about $3.31 million (a 12.37% reduction in his holding) and a VP sold 4,981 shares, while insiders overall own just 0.99% of the stock.
• Brunswick posted a Q4 revenue beat ($1.33B, +15.5% YoY) with EPS of $0.58 in line with estimates, raised its quarterly dividend to $0.44 (2.3% yield), but still has a negative net margin and a negative P/E; analysts' average rating is "Hold" with a $84.57 target.

Baillie Gifford & Co. trimmed its position in shares of Brunswick Corporation (NYSE:BC - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,678,211 shares of the company's stock after selling 131,691 shares during the period. Baillie Gifford & Co. owned 2.58% of Brunswick worth $124,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BC. Royal Bank of Canada increased its holdings in Brunswick by 10.7% during the first quarter. Royal Bank of Canada now owns 149,000 shares of the company's stock worth $8,024,000 after buying an additional 14,395 shares during the last quarter. AQR Capital Management LLC increased its holdings in Brunswick by 133.6% during the first quarter. AQR Capital Management LLC now owns 77,326 shares of the company's stock worth $4,076,000 after buying an additional 44,228 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Brunswick by 142.9% during the first quarter. Goldman Sachs Group Inc. now owns 346,503 shares of the company's stock worth $18,659,000 after buying an additional 203,838 shares during the last quarter. United Services Automobile Association acquired a new position in Brunswick during the first quarter worth $214,000. Finally, Geneos Wealth Management Inc. increased its holdings in Brunswick by 477.0% during the first quarter. Geneos Wealth Management Inc. now owns 727 shares of the company's stock worth $39,000 after buying an additional 601 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley set a $82.00 price target on Brunswick in a research note on Tuesday, February 17th. Benchmark increased their price target on Brunswick from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Loop Capital assumed coverage on Brunswick in a research note on Monday, December 22nd. They issued a "hold" rating and a $74.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Brunswick from $73.00 to $78.00 and gave the company a "neutral" rating in a research note on Monday, March 16th. Finally, B. Riley Financial restated a "neutral" rating and issued a $80.00 price target (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of "Hold" and an average price target of $84.57.

Insider Buying and Selling

In related news, CEO David M. Foulkes sold 38,266 shares of the company's stock in a transaction that occurred on 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 $23,472,388.64. This represents a 12.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher F. Dekker sold 4,981 shares of the business's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the sale, the vice president directly owned 39,740 shares in the company, valued at approximately $3,472,481.20. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. 0.99% of the stock is owned by corporate insiders.

Brunswick Stock Performance

NYSE BC opened at $77.64 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -36.62 and a beta of 1.38. The firm's 50 day simple moving average is $78.10 and its 200 day simple moving average is $74.06. Brunswick Corporation has a 1 year low of $42.05 and a 1 year high of $90.25.

Brunswick (NYSE:BC - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. As a group, research analysts expect that Brunswick Corporation will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Monday, February 23rd were given a dividend of $0.44 per share. The ex-dividend date was Monday, February 23rd. This represents a $1.76 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Brunswick's previous quarterly dividend of $0.43. Brunswick's dividend payout ratio is currently -83.02%.

Brunswick 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.

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