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

Jennison Associates LLC decreased its position in shares of Brunswick Co. (NYSE:BC) by 66.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,265 shares of the company’s stock after selling 416,983 shares during the quarter. Jennison Associates LLC owned 0.31% of Brunswick worth $17,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Brunswick by 2.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,637,962 shares of the company’s stock valued at $191,964,000 after acquiring an additional 58,583 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Brunswick by 88.0% in the second quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Brunswick by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,096,808 shares of the company’s stock worth $152,577,000 after purchasing an additional 144,416 shares during the period. American Century Companies Inc. raised its stake in Brunswick by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock valued at $106,337,000 after buying an additional 57,605 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Brunswick by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock valued at $118,563,000 after buying an additional 168,384 shares during the period. Institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

Shares of Brunswick stock opened at $82.37 on Friday. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Brunswick Co. has a 12 month low of $69.05 and a 12 month high of $99.68. The stock has a 50 day moving average of $81.74 and a 200 day moving average of $78.80. The firm has a market cap of $5.43 billion, a PE ratio of 20.49 and a beta of 1.51.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.04%. 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 stock was sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $80.22, for a total value of $1,911,562.38. Following the sale, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. The trade was a 8.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,940 shares of company stock worth $2,321,176. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

BC has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $70.00 price objective (down from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Robert W. Baird dropped their price target on shares of Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Citigroup raised their price objective on shares of Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Benchmark reaffirmed a “buy” rating and issued a $100.00 target price on shares of Brunswick in a report on Friday, October 25th. Finally, Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.23.

About Brunswick

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.