Franklin Resources Inc. Grows Position in Brunswick Co. (NYSE:BC)

Franklin Resources Inc. raised its holdings in Brunswick Co. (NYSE:BC) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,128 shares of the company’s stock after purchasing an additional 5,604 shares during the period. Franklin Resources Inc. owned 0.35% of Brunswick worth $19,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BC. Baillie Gifford & Co. boosted its stake in Brunswick by 88.0% in the 2nd quarter. Baillie Gifford & Co. now owns 2,430,983 shares of the company’s stock worth $176,903,000 after purchasing an additional 1,137,568 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Brunswick by 17.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares in the last quarter. Janus Henderson Group PLC raised its position in Brunswick by 1,120.5% during the third quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock valued at $29,725,000 after purchasing an additional 325,574 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Brunswick by 447.5% during the 3rd quarter. New York State Common Retirement Fund now owns 271,681 shares of the company’s stock valued at $22,772,000 after buying an additional 222,062 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Brunswick in the 3rd quarter worth approximately $15,907,000. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

BC has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $100.00 target price on shares of Brunswick in a report on Friday, October 25th. Citigroup boosted their price objective on Brunswick from $92.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $88.00 in a report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.54.

Brunswick Stock Down 1.6 %

BC opened at $66.84 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. The company has a market capitalization of $4.41 billion, a PE ratio of 16.63 and a beta of 1.50. Brunswick Co. has a 1-year low of $66.77 and a 1-year high of $99.68. The firm’s 50 day simple moving average is $79.76 and its two-hundred day simple moving average is $78.21.

Brunswick Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, November 20th. Brunswick’s payout ratio is 41.79%.

Insiders Place Their Bets

In other Brunswick news, CEO David M. Foulkes sold 23,829 shares of Brunswick 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 sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. The trade was a 8.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now owns 24,557 shares of the company’s stock, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,940 shares of company stock worth $2,321,176 over the last three months. 0.81% of the stock is currently 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.