Turtle Creek Asset Management Inc. Has $191.81 Million Stock Holdings in Brunswick Co. (NYSE:BC)

Turtle Creek Asset Management Inc. boosted its stake in shares of Brunswick Co. (NYSE:BC - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,965,460 shares of the company's stock after purchasing an additional 488,412 shares during the period. Brunswick makes up approximately 5.0% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 6th biggest holding. Turtle Creek Asset Management Inc. owned approximately 4.49% of Brunswick worth $191,806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. FIL Ltd boosted its position in Brunswick by 323.9% during the 4th quarter. FIL Ltd now owns 1,114,324 shares of the company's stock worth $72,074,000 after purchasing an additional 851,449 shares during the period. Norges Bank purchased a new stake in shares of Brunswick during the 4th quarter valued at about $30,097,000. Raymond James Financial Inc. purchased a new position in Brunswick in the 4th quarter worth approximately $29,646,000. JPMorgan Chase & Co. raised its stake in shares of Brunswick by 18.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,757,186 shares of the company's stock valued at $113,655,000 after purchasing an additional 269,413 shares during the period. Finally, Lightrock Netherlands B.V. acquired a new position in shares of Brunswick during the fourth quarter worth $16,400,000. Institutional investors and hedge funds own 99.34% of the company's stock.

Analysts Set New Price Targets

BC has been the subject of a number of recent analyst reports. Roth Mkm lowered their price target on shares of Brunswick from $91.00 to $85.00 and set a "buy" rating for the company in a report on Friday, January 24th. Morgan Stanley raised their target price on Brunswick from $64.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Robert W. Baird increased their price target on Brunswick from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Baird R W downgraded Brunswick from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, BMO Capital Markets reduced their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $71.31.

Insiders Place Their Bets

In other news, SVP Randall S. Altman sold 3,417 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $63.21, for a total value of $215,988.57. Following the transaction, the senior vice president now directly owns 26,683 shares of the company's stock, valued at approximately $1,686,632.43. This represents a 11.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company's stock.

Brunswick Trading Down 2.8%

Shares of NYSE BC traded down $1.41 during mid-day trading on Friday, hitting $49.85. 197,576 shares of the company traded hands, compared to its average volume of 962,207. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Brunswick Co. has a 1 year low of $41.00 and a 1 year high of $87.65. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 26.23 and a beta of 1.28. The business has a 50 day moving average of $49.24 and a two-hundred day moving average of $62.40.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.25 by $0.31. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the company posted $1.35 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Monday, May 19th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, May 19th. Brunswick's dividend payout ratio is currently 142.15%.

Brunswick Profile

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.