Farringdon Capital Ltd. Makes New $279,000 Investment in Brunswick Co. (NYSE:BC)

Farringdon Capital Ltd. acquired a new stake in shares of Brunswick Co. (NYSE:BC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,315 shares of the company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BC. JPMorgan Chase & Co. grew its position in shares of Brunswick by 18.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,757,186 shares of the company’s stock worth $113,655,000 after buying an additional 269,413 shares during the last quarter. American Century Companies Inc. lifted its stake in Brunswick by 2.9% in the fourth quarter. American Century Companies Inc. now owns 1,462,558 shares of the company’s stock worth $94,599,000 after acquiring an additional 41,583 shares during the period. Alliancebernstein L.P. boosted its holdings in Brunswick by 4.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,338,619 shares of the company’s stock valued at $86,582,000 after acquiring an additional 59,228 shares in the last quarter. FIL Ltd increased its position in Brunswick by 323.9% during the 4th quarter. FIL Ltd now owns 1,114,324 shares of the company’s stock valued at $72,074,000 after purchasing an additional 851,449 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Brunswick by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after purchasing an additional 28,781 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Insider Buying and Selling at Brunswick

In related news, Director Nancy E. Cooper sold 433 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the transaction, the director now directly owns 25,361 shares of the company’s stock, valued at approximately $1,664,949.65. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Randall S. Altman sold 3,417 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now owns 26,683 shares in the company, valued at $1,686,632.43. The trade was a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Brunswick Price Performance

Shares of BC stock opened at $43.74 on Friday. The stock’s 50-day moving average is $55.20 and its 200 day moving average is $67.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. Brunswick Co. has a 1-year low of $41.00 and a 1-year high of $87.65. The company has a market cap of $2.88 billion, a P/E ratio of 23.02 and a beta of 1.42.

Brunswick (NYSE:BC) last posted its quarterly earnings data on Thursday, January 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the prior year, the company earned $1.45 earnings per share. Research analysts predict that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.43 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Monday, February 24th. Brunswick’s dividend payout ratio (DPR) is currently 90.53%.

Wall Street Analyst Weigh In

BC has been the topic of several research analyst reports. Roth Mkm reduced their price target on shares of Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Truist Financial reduced their target price on Brunswick from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 14th. DA Davidson upgraded Brunswick to a “hold” rating in a research note on Monday, April 14th. Citigroup reduced their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Baird R W lowered Brunswick from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.67.

Brunswick 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.