State of New Jersey Common Pension Fund D Buys 2,205 Shares of Brunswick Co. (NYSE:BC)

State of New Jersey Common Pension Fund D grew its position in shares of Brunswick Co. (NYSE:BC) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,395 shares of the company’s stock after purchasing an additional 2,205 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brunswick were worth $1,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Oak Thistle LLC bought a new stake in shares of Brunswick during the 4th quarter valued at about $368,000. Global Alpha Capital Management Ltd. boosted its holdings in shares of Brunswick by 47.5% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 240,128 shares of the company’s stock worth $20,128,000 after buying an additional 77,340 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Brunswick by 7.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after buying an additional 102,780 shares during the period. Barclays PLC increased its stake in shares of Brunswick by 78.6% in the 3rd quarter. Barclays PLC now owns 118,189 shares of the company’s stock valued at $9,907,000 after acquiring an additional 52,024 shares in the last quarter. Finally, Markel Group Inc. acquired a new position in shares of Brunswick during the 3rd quarter valued at $1,173,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analysts Set New Price Targets

BC has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Truist Financial decreased their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. DA Davidson dropped their price target on Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Citigroup reduced their price objective on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their target price on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.62.

Brunswick Stock Performance

Shares of BC stock opened at $64.44 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 0.63. The firm has a 50-day moving average of $66.03 and a 200-day moving average of $74.98. Brunswick Co. has a one year low of $61.42 and a one year high of $96.65. The company has a market cap of $4.24 billion, a P/E ratio of 33.91 and a beta of 1.54.

Brunswick (NYSE:BC) last posted its earnings results 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 previous year, the company posted $1.45 EPS. Equities research analysts forecast that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 24th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, February 24th. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.67%. Brunswick’s dividend payout ratio (DPR) is currently 88.42%.

Insider Activity at Brunswick

In related news, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the sale, the director now directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.81% of the stock is owned by company insiders.

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.