JPMorgan Chase & Co. Has $124.71 Million Stock Holdings in Brunswick Co. (NYSE:BC)

JPMorgan Chase & Co. raised its stake in Brunswick Co. (NYSE:BC) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,487,773 shares of the company’s stock after purchasing an additional 102,780 shares during the period. JPMorgan Chase & Co. owned 2.25% of Brunswick worth $124,705,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BC. Sei Investments Co. increased its stake in shares of Brunswick by 7.6% during the second quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock worth $16,087,000 after purchasing an additional 15,602 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Brunswick during the second quarter worth $8,289,000. Quest Partners LLC increased its stake in Brunswick by 99,353.8% during the 2nd quarter. Quest Partners LLC now owns 12,929 shares of the company’s stock worth $941,000 after acquiring an additional 12,916 shares during the period. American Century Companies Inc. lifted its position in Brunswick by 4.1% during the second quarter. American Century Companies Inc. now owns 1,461,268 shares of the company’s stock worth $106,337,000 after purchasing an additional 57,605 shares during the period. Finally, Bank of Montreal Can increased its holdings in Brunswick by 20.8% in the 2nd quarter. Bank of Montreal Can now owns 40,193 shares of the company’s stock valued at $2,925,000 after buying an additional 6,922 shares during the period. 99.34% of the stock is owned by institutional investors.

Brunswick Trading Up 0.3 %

Shares of BC stock opened at $64.68 on Thursday. The company has a market cap of $4.27 billion, a P/E ratio of 16.09 and a beta of 1.50. Brunswick Co. has a fifty-two week low of $63.08 and a fifty-two week high of $97.03. The stock has a 50 day simple moving average of $76.76 and a two-hundred day simple moving average of $77.49. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.60%. Brunswick’s payout ratio is presently 41.79%.

Insider Buying and Selling

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the sale, the director now owns 19,218 shares in the company, valued at $1,540,130.52. The trade was a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 251,094 shares in the company, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,940 shares of company stock valued at $2,321,176 over the last ninety days. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Benchmark restated a “buy” rating and set a $100.00 price objective on shares of Brunswick in a research report on Friday, October 25th. B. Riley lowered Brunswick from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $88.00 in a research note on Tuesday, November 26th. Finally, Citigroup increased their target price on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.54.

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.