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

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in Brunswick by 88.0% in the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock valued at $176,903,000 after purchasing an additional 1,137,568 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Brunswick by 447.5% during the third quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock worth $22,772,000 after buying an additional 222,062 shares during the period. Swedbank AB acquired a new stake in Brunswick in the first quarter valued at approximately $19,304,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in Brunswick in the third quarter worth approximately $15,907,000. Finally, Victory Capital Management Inc. grew its holdings in Brunswick by 13.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,414,490 shares of the company’s stock worth $118,563,000 after acquiring an additional 168,384 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.

Brunswick Stock Performance

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

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 paid a $0.42 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.11%. Brunswick’s dividend payout ratio (DPR) is presently 41.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. 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. decreased their price target on Brunswick from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Citigroup upped their price target on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a report on Friday, September 27th. Robert W. Baird dropped 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. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $70.00 price target (down previously from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.23.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the transaction, the chief executive officer now directly owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. This represents 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 valued at $2,321,176. Corporate insiders own 0.81% of the company’s stock.

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.