Allianz Asset Management GmbH Raises Stock Holdings in Brunswick Corporation $BC

Allianz Asset Management GmbH boosted its position in shares of Brunswick Corporation (NYSE:BC) by 191.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 214,150 shares of the company’s stock after acquiring an additional 140,566 shares during the quarter. Allianz Asset Management GmbH owned about 0.33% of Brunswick worth $13,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. First Horizon Corp acquired a new stake in shares of Brunswick during the third quarter worth about $26,000. Jones Financial Companies Lllp raised its position in Brunswick by 50.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after buying an additional 166 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Brunswick during the 3rd quarter worth approximately $37,000. Quent Capital LLC acquired a new stake in Brunswick during the 3rd quarter valued at approximately $38,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Brunswick by 477.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 727 shares of the company’s stock valued at $39,000 after acquiring an additional 601 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BC has been the subject of several recent research reports. Benchmark raised their target price on shares of Brunswick from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Truist Financial lifted their price objective on Brunswick from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brunswick in a report on Monday, December 29th. DA Davidson raised their target price on Brunswick from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded Brunswick from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.93.

Insiders Place Their Bets

In other Brunswick news, CEO David M. Foulkes sold 38,266 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the transaction, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at $23,472,388.64. This trade represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

NYSE BC opened at $87.95 on Friday. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of -41.49 and a beta of 1.39. The stock has a 50-day moving average of $79.62 and a 200 day moving average of $69.28. The company has a current ratio of 1.44, a quick ratio of 0.61 and a debt-to-equity ratio of 1.11. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $89.61.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The business’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. Sell-side analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current fiscal year.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.