Brunswick Corporation $BC Shares Bought by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Brunswick stake by 291.4% in the third quarter, to 51,993 shares valued at about $3.34 million. Institutional investors and hedge funds collectively own 99.34% of the stock.
• Brunswick reported quarterly EPS of $1.58, beating estimates of $1.35, while revenue of $1.45 billion came in slightly below expectations. Analysts’ consensus rating was Hold, with an average price target of $83.75.
• CEO David Foulkes sold 48,134 shares for about $3.8 million, reducing his position by 17.88%. Brunswick also declared a quarterly dividend of $0.44 per share.

CenterBook Partners LP grew its position in Brunswick Corporation (NYSE:BC - Free Report) by 291.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,993 shares of the company's stock after purchasing an additional 38,708 shares during the quarter. CenterBook Partners LP owned approximately 0.08% of Brunswick worth $3,340,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Brunswick by 55.0% in the third quarter. Commonwealth Equity Services LLC now owns 6,657 shares of the company's stock valued at $428,000 after buying an additional 2,361 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Brunswick during the 3rd quarter worth about $322,000. Garner Asset Management Corp grew its holdings in Brunswick by 2.5% during the 3rd quarter. Garner Asset Management Corp now owns 21,468 shares of the company's stock worth $1,419,000 after acquiring an additional 517 shares during the period. Vise Technologies Inc. raised its position in shares of Brunswick by 17.8% in the 3rd quarter. Vise Technologies Inc. now owns 6,677 shares of the company's stock worth $429,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Parcion Private Wealth LLC acquired a new position in shares of Brunswick in the 3rd quarter valued at about $217,000. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on BC shares. Weiss Ratings restated a "sell (d+)" rating on shares of Brunswick in a research note on Monday, September 21st. DA Davidson reaffirmed a "neutral" rating and set a $76.00 price target on shares of Brunswick in a research report on Monday, August 17th. Royal Bank Of Canada set a $66.00 price objective on shares of Brunswick in a report on Friday, October 23rd. William Blair set a $94.00 target price on Brunswick in a report on Thursday, August 13th. Finally, BNP Paribas Exane assumed coverage on shares of Brunswick in a research report on Friday, October 30th. They set a "hold" rating and a $79.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $83.75.

Insider Buying and Selling at Brunswick

In other news, CEO David Foulkes sold 48,134 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $78.98, for a total value of $3,801,623.32. Following the completion of the sale, the chief executive officer directly owned 221,047 shares in the company, valued at approximately $17,458,292.06. The trade was a 17.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.99% of the company's stock.

Brunswick Stock Down 2.1%

Shares of NYSE:BC opened at $77.26 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.62 and a current ratio of 1.51. The firm has a market capitalization of $5.01 billion, a PE ratio of 23.92 and a beta of 1.40. The firm has a fifty day moving average of $68.79 and a 200 day moving average of $77.23. Brunswick Corporation has a 52-week low of $59.06 and a 52-week high of $90.25.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.23. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.46 billion. Brunswick had a return on equity of 17.51% and a net margin of 3.69%. Brunswick's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $0.97 EPS. As a group, research analysts anticipate that Brunswick Corporation will post 4.66 EPS for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, November 24th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. Brunswick's dividend payout ratio (DPR) is 54.49%.

Brunswick Profile

Brunswick Corporation NYSE: BC is a marine recreation company that designs, manufactures and distributes products used in boating and related recreational activities. Its portfolio includes marine propulsion systems, boats, engines, electronics, boat control systems and other components, as well as parts and accessories.

The company's marine businesses include Mercury Marine, which produces outboard, sterndrive and inboard engines, and a range of boat brands such as Boston Whaler, Sea Ray, Bayliner, Lund, Harris and Princecraft.

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