Massachusetts Financial Services Co. MA Buys 78,228 Shares of Brunswick Corporation $BC

Key Points

• Massachusetts Financial Services Co. MA boosted its stake in Brunswick by 2.2%, buying an additional 78,228 shares and now holds 3,572,892 shares — about 5.49% of the company valued at roughly $265.25 million.
• Brunswick reported Q4 revenue of $1.33 billion (beating $1.21B est.) and EPS of $0.58 (in line), with revenue up 15.5% YoY but a negative net margin of -2.56% and a negative PE ratio; the company also raised its quarterly dividend to $0.44 ($1.76 annualized, ~2.3% yield).

Massachusetts Financial Services Co. MA boosted its stake in Brunswick Corporation (NYSE:BC - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,572,892 shares of the company's stock after purchasing an additional 78,228 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.49% of Brunswick worth $265,252,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its holdings in shares of Brunswick by 191.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 214,150 shares of the company's stock valued at $13,543,000 after acquiring an additional 140,566 shares in the last quarter. Interval Partners LP raised its holdings in shares of Brunswick by 268.6% in the 3rd quarter. Interval Partners LP now owns 521,401 shares of the company's stock valued at $32,973,000 after acquiring an additional 379,937 shares in the last quarter. Perbak Capital Partners LLP purchased a new stake in shares of Brunswick in the 3rd quarter valued at about $1,339,000. Federated Hermes Inc. raised its holdings in shares of Brunswick by 26.0% in the 3rd quarter. Federated Hermes Inc. now owns 824,181 shares of the company's stock valued at $52,121,000 after acquiring an additional 170,030 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Brunswick by 70.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,700,164 shares of the company's stock valued at $107,518,000 after acquiring an additional 700,447 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Brunswick Price Performance

Shares of Brunswick stock opened at $77.03 on Friday. 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 $5.02 billion, a PE ratio of -36.34 and a beta of 1.38. The business's 50-day moving average price is $78.19 and its 200-day moving average price is $73.87. Brunswick Corporation has a 12 month low of $41.86 and a 12 month high of $90.25.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The company's revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 EPS. Sell-side analysts forecast 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 given a dividend of $0.44 per share. This is a boost from Brunswick's previous quarterly dividend of $0.43. The ex-dividend date was Monday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 2.3%. Brunswick's dividend payout ratio is currently -83.02%.

Insider Activity

In other news, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $87.38, for a total transaction of $435,239.78. Following the transaction, the vice president directly owned 39,740 shares in the company, valued at approximately $3,472,481.20. This represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Foulkes sold 38,266 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 271,169 shares in the company, valued at approximately $23,472,388.64. The trade was a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on BC. Benchmark raised their price target on Brunswick from $75.00 to $90.00 and gave the company a "buy" rating in a report on Friday, January 30th. DA Davidson raised their price target on Brunswick from $68.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, February 2nd. Robert W. Baird set a $85.00 price target on Brunswick in a report on Friday, January 30th. JPMorgan Chase & Co. raised their price target on Brunswick from $73.00 to $78.00 and gave the company a "neutral" rating in a report on Monday, March 16th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brunswick in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.57.

Brunswick Company 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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