Brunswick Corporation $BC Stock Position Raised by Interval Partners LP

Key Points

• Interval Partners LP raised its stake in Brunswick by 268.6% in Q3 to 521,401 shares (about 0.80% of the company, ~$32.97M), and several other large institutions also significantly increased positions, leaving institutional ownership at 99.34%.
• Brunswick reported Q earnings with $0.58 EPS (in line) and $1.33B revenue (beat, +15.5% YoY) but a negative net margin of 2.56%; analysts show a consensus "Hold" rating with an average target of $84.00.
• The company raised its quarterly dividend to $0.44 (annualized $1.76, ~2.6% yield), while insiders including the CEO sold shares, modestly reducing their ownership stakes.

Interval Partners LP increased its holdings in shares of Brunswick Corporation (NYSE:BC - Free Report) by 268.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 521,401 shares of the company's stock after acquiring an additional 379,937 shares during the quarter. Interval Partners LP owned approximately 0.80% of Brunswick worth $32,973,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BC. American Century Companies Inc. grew its holdings in shares of Brunswick by 56.4% during the third quarter. American Century Companies Inc. now owns 2,302,918 shares of the company's stock valued at $145,637,000 after purchasing an additional 830,451 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Brunswick by 70.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company's stock worth $107,518,000 after purchasing an additional 700,447 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Brunswick by 812.7% in the 2nd quarter. AQR Capital Management LLC now owns 705,719 shares of the company's stock worth $38,934,000 after purchasing an additional 628,393 shares during the last quarter. Marshall Wace LLP boosted its position in Brunswick by 62.4% during the 3rd quarter. Marshall Wace LLP now owns 1,471,536 shares of the company's stock valued at $93,060,000 after purchasing an additional 565,459 shares during the period. Finally, Norges Bank acquired a new stake in Brunswick in the second quarter worth $27,990,000. Institutional investors own 99.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BC shares. Wall Street Zen cut Brunswick from a "buy" rating to a "hold" rating in a research note on Sunday, December 7th. Weiss Ratings restated a "sell (d+)" rating on shares of Brunswick in a research report on Monday, December 29th. Loop Capital began coverage on shares of Brunswick in a research report on Monday, December 22nd. They issued a "hold" rating and a $74.00 price objective on the stock. B. Riley Financial reissued a "neutral" rating and set a $80.00 target price (up from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Finally, Jefferies Financial Group set a $115.00 target price on shares of Brunswick and gave the stock a "buy" rating in a research report on Tuesday, January 6th. One 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 issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $84.00.

Brunswick Trading Down 0.1%

Brunswick stock opened at $68.90 on Friday. Brunswick Corporation has a 12-month low of $41.00 and a 12-month high of $90.25. 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 stock has a market capitalization of $4.47 billion, a PE ratio of -32.50 and a beta of 1.39. The firm has a 50 day simple moving average of $83.15 and a 200-day simple moving average of $72.65.

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

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Brunswick's previous quarterly dividend of $0.43. Brunswick's dividend payout ratio (DPR) is presently -83.02%.

Insider Buying and Selling at Brunswick

In other news, CEO David M. Foulkes sold 38,266 shares of the company's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $86.56, for a total value of $3,312,304.96. Following the completion of the sale, the chief executive officer owned 271,169 shares in the company, valued at $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher F. Dekker sold 4,981 shares of the firm's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $87.38, for a total value of $435,239.78. Following the transaction, the vice president directly owned 39,740 shares of the company's stock, valued at $3,472,481.20. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.81% of the company's stock.

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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