Harvest Fund Management Co. Ltd Boosts Stock Position in Brunswick Co. (NYSE:BC)

Harvest Fund Management Co. Ltd boosted its holdings in Brunswick Co. (NYSE:BC) by 14,566.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 440 shares of the company’s stock after buying an additional 437 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Brunswick were worth $43,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BC. Alps Advisors Inc. grew its holdings in shares of Brunswick by 224.7% during the third quarter. Alps Advisors Inc. now owns 49,446 shares of the company’s stock worth $3,906,000 after purchasing an additional 34,220 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Brunswick by 127.6% during the third quarter. Victory Capital Management Inc. now owns 866,226 shares of the company’s stock worth $68,432,000 after purchasing an additional 485,588 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Brunswick during the fourth quarter worth about $20,460,000. Envestnet Asset Management Inc. grew its holdings in shares of Brunswick by 29.5% during the third quarter. Envestnet Asset Management Inc. now owns 144,584 shares of the company’s stock worth $11,422,000 after purchasing an additional 32,901 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of Brunswick by 10.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 156,596 shares of the company’s stock worth $12,371,000 after purchasing an additional 15,042 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BC. Truist Financial lowered their price target on Brunswick from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. BNP Paribas reissued a “neutral” rating and set a $82.00 price target (down previously from $94.00) on shares of Brunswick in a report on Monday, April 15th. Stifel Nicolaus raised their price target on Brunswick from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. DA Davidson reissued a “neutral” rating and set a $77.00 price target on shares of Brunswick in a report on Friday, March 15th. Finally, B. Riley upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and raised their price objective for the company from $100.00 to $108.00 in a research report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.83.

Brunswick Trading Up 1.3 %

Shares of Brunswick stock opened at $81.05 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.43 and a quick ratio of 0.59. Brunswick Co. has a 1 year low of $66.47 and a 1 year high of $99.68. The company has a market capitalization of $5.58 billion, a P/E ratio of 13.62 and a beta of 1.56. The business has a 50 day moving average price of $89.13 and a 200 day moving average price of $84.77.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($0.01). Brunswick had a return on equity of 29.78% and a net margin of 6.57%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was down 21.7% on a year-over-year basis. Sell-side analysts anticipate that Brunswick Co. will post 7.5 EPS for the current fiscal year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were given a dividend of $0.42 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, February 23rd. Brunswick’s payout ratio is currently 28.24%.

Insider Buying and Selling

In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Brunswick news, CEO David M. Foulkes sold 35,000 shares of Brunswick stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.11, for a total value of $3,048,850.00. Following the completion of the sale, the chief executive officer now directly owns 272,626 shares of the company’s stock, valued at approximately $23,748,450.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher F. Dekker sold 6,234 shares of Brunswick stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $84.53, for a total transaction of $526,960.02. Following the completion of the sale, the vice president now directly owns 35,176 shares of the company’s stock, valued at $2,973,427.28. The disclosure for this sale can be found here. Insiders sold 52,696 shares of company stock worth $4,574,199 in the last ninety days. 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.