Premier Fund Managers Ltd Makes New $973,000 Investment in Brunswick Co. (NYSE:BC)

Premier Fund Managers Ltd acquired a new stake in Brunswick Co. (NYSE:BC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,514 shares of the company’s stock, valued at approximately $973,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Brunswick in the 3rd quarter valued at $26,000. Allspring Global Investments Holdings LLC grew its position in shares of Brunswick by 43,700.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 438 shares of the company’s stock valued at $42,000 after purchasing an additional 437 shares during the period. Avior Wealth Management LLC grew its position in shares of Brunswick by 1,073.7% in the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock valued at $56,000 after purchasing an additional 612 shares during the period. Covestor Ltd increased its stake in shares of Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after purchasing an additional 843 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Brunswick by 92.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,155 shares of the company’s stock worth $97,000 after purchasing an additional 555 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BC has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Citigroup boosted their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Roth Mkm restated a “buy” rating and issued a $94.00 price objective on shares of Brunswick in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.23.

Brunswick Stock Performance

NYSE:BC opened at $79.55 on Wednesday. The company’s 50-day moving average is $81.59 and its two-hundred day moving average is $78.79. Brunswick Co. has a 1-year low of $69.05 and a 1-year high of $99.68. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.97 and a quick ratio of 0.74. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 19.79 and a beta of 1.51.

Brunswick Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 20th. Brunswick’s dividend payout ratio is presently 41.79%.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 366 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the sale, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the completion of the transaction, the chief executive officer now owns 251,094 shares in the company, valued at approximately $20,142,760.68. This represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,940 shares of company stock worth $2,321,176. Company insiders own 0.81% of the company’s stock.

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.