Perpetual Ltd purchased a new position in shares of Brunswick Co. (NYSE:BC – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,987 shares of the company’s stock, valued at approximately $323,000.
A number of other large investors have also made changes to their positions in BC. Armstrong Advisory Group Inc. acquired a new position in shares of Brunswick in the 4th quarter valued at $39,000. Oak Thistle LLC acquired a new position in shares of Brunswick in the 4th quarter valued at $368,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Brunswick by 5.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,883 shares of the company’s stock valued at $316,000 after acquiring an additional 236 shares during the period. JPMorgan Chase & Co. increased its position in shares of Brunswick by 7.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock valued at $124,705,000 after acquiring an additional 102,780 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Brunswick by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock valued at $90,171,000 after acquiring an additional 28,781 shares during the period. 99.34% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently issued reports on BC. B. Riley downgraded Brunswick from a “buy” rating to a “neutral” rating and cut their target price for the company from $95.00 to $88.00 in a research report on Tuesday, November 26th. Truist Financial reduced their price objective on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Citigroup lifted their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Morgan Stanley reduced their price objective on Brunswick from $78.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus reduced their price objective on Brunswick from $95.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.46.
Insider Buying and Selling
In related news, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction dated Thursday, October 31st. The stock was 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 directly owns 251,094 shares in the company, valued at approximately $20,142,760.68. The trade was a 8.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $29,349.54. Following the transaction, the director now owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.
Brunswick Trading Up 1.3 %
BC stock opened at $68.42 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 $62.64 and a 12-month high of $96.65. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 17.02 and a beta of 1.54. The business’s 50-day moving average is $71.76 and its 200 day moving average is $76.79.
Brunswick Company 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.
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