Jennison Associates LLC Increases Position in Brunswick Co. (NYSE:BC)

Jennison Associates LLC increased its holdings in shares of Brunswick Co. (NYSE:BC - Free Report) by 71.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 806,396 shares of the company's stock after buying an additional 334,851 shares during the quarter. Jennison Associates LLC owned 1.15% of Brunswick worth $78,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BC. Valley National Advisers Inc. acquired a new stake in Brunswick during the third quarter valued at $25,000. Fifth Third Bancorp boosted its position in Brunswick by 17.9% during the third quarter. Fifth Third Bancorp now owns 1,042 shares of the company's stock valued at $82,000 after purchasing an additional 158 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in Brunswick by 40.6% during the third quarter. FinTrust Capital Advisors LLC now owns 1,101 shares of the company's stock valued at $87,000 after purchasing an additional 318 shares during the last quarter. Ramirez Asset Management Inc. acquired a new stake in Brunswick during the third quarter valued at $163,000. Finally, Trust Point Inc. acquired a new stake in Brunswick during the fourth quarter valued at $212,000. Hedge funds and other institutional investors own 99.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on BC shares. BNP Paribas reaffirmed a "neutral" rating and issued a $82.00 price target (down previously from $94.00) on shares of Brunswick in a research report on Monday, April 15th. Raymond James cut Brunswick from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 4th. Truist Financial dropped their price objective on Brunswick from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, February 2nd. Roth Mkm lifted their price objective on Brunswick from $85.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus lifted their price objective on Brunswick from $88.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.08.

Brunswick Price Performance

Shares of BC traded up $1.44 on Tuesday, hitting $86.36. The company's stock had a trading volume of 718,930 shares, compared to its average volume of 740,053. The company has a market capitalization of $5.94 billion, a PE ratio of 14.51 and a beta of 1.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. Brunswick Co. has a fifty-two week low of $66.47 and a fifty-two week high of $99.68. The company has a 50 day moving average price of $89.30 and a 200 day moving average price of $84.79.

Brunswick (NYSE:BC - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.21). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company posted $1.99 EPS. The firm's quarterly revenue was down 14.0% compared to the same quarter last year. On average, research analysts anticipate that Brunswick Co. will post 7.5 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Brunswick's previous quarterly dividend of $0.40. Brunswick's dividend payout ratio is 28.24%.

Insider Activity

In other news, CEO David M. Foulkes sold 35,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.11, for a total value of $3,048,850.00. Following the transaction, the chief executive officer now owns 272,626 shares of the company's stock, valued at approximately $23,748,450.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Ryan M. Gwillim sold 9,036 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $87.10, for a total value of $787,035.60. Following the completion of the sale, the chief financial officer now owns 28,966 shares in the company, valued at approximately $2,522,938.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David M. Foulkes sold 35,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.11, for a total transaction of $3,048,850.00. Following the completion of the sale, the chief executive officer now owns 272,626 shares of the company's stock, valued at approximately $23,748,450.86. The disclosure for this sale can be found here. Insiders have sold a total of 52,696 shares of company stock valued at $4,574,199 in the last 90 days. 0.81% of the stock is owned by company insiders.

Brunswick Company 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.