State of Michigan Retirement System Grows Position in Brunswick Co. (NYSE:BC)

State of Michigan Retirement System raised its position in shares of Brunswick Co. (NYSE:BCFree Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,870 shares of the company’s stock after acquiring an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Brunswick were worth $1,628,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Brunswick by 0.5% during the 3rd quarter. American Century Companies Inc. now owns 1,972,076 shares of the company’s stock worth $155,794,000 after purchasing an additional 9,465 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Brunswick by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,917,051 shares of the company’s stock valued at $185,483,000 after acquiring an additional 47,053 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Brunswick by 32.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,144,308 shares of the company’s stock worth $110,712,000 after purchasing an additional 278,082 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Brunswick by 71.0% in the 4th quarter. Jennison Associates LLC now owns 806,396 shares of the company’s stock valued at $78,019,000 after purchasing an additional 334,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Brunswick by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 683,813 shares of the company’s stock worth $66,159,000 after purchasing an additional 6,239 shares during the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Stock Performance

Brunswick stock opened at $69.46 on Friday. Brunswick Co. has a 12-month low of $66.47 and a 12-month high of $99.68. The company has a quick ratio of 0.75, a current ratio of 1.68 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 12.91 and a beta of 1.52. The stock has a 50-day simple moving average of $77.68 and a 200 day simple moving average of $85.04.

Brunswick (NYSE:BCGet Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.01). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. Brunswick’s revenue for the quarter was down 21.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. On average, research analysts anticipate that Brunswick Co. will post 7.39 earnings per share for the current fiscal year.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, May 13th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.42%. Brunswick’s dividend payout ratio (DPR) is currently 31.23%.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 357 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares of the company’s stock, valued at $1,864,771.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the sale, the director now directly owns 23,211 shares in the company, valued at $1,864,771.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brenna Preisser sold 1,225 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $82.09, for a total value of $100,560.25. Following the transaction, the vice president now owns 58,076 shares in the company, valued at approximately $4,767,458.84. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

BC has been the subject of a number of research analyst reports. BNP Paribas reiterated a “neutral” rating and issued a $82.00 price target (down from $94.00) on shares of Brunswick in a report on Monday, April 15th. Roth Mkm restated a “buy” rating and issued a $94.00 price target on shares of Brunswick in a research report on Thursday, April 25th. DA Davidson reaffirmed a “neutral” rating and issued a $77.00 price target on shares of Brunswick in a report on Friday, March 15th. Benchmark began coverage on shares of Brunswick in a report on Wednesday, May 22nd. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Brunswick from $91.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brunswick has a consensus rating of “Moderate Buy” and an average target price of $92.83.

Get Our Latest Stock Report on BC

About Brunswick

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brunswick Co. (NYSE:BCFree Report).

Institutional Ownership by Quarter for Brunswick (NYSE:BC)

Receive News & Ratings for Brunswick Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brunswick and related companies with MarketBeat.com's FREE daily email newsletter.