Perbak Capital Partners LLP Makes New $1.34 Million Investment in Brunswick Corporation $BC

Perbak Capital Partners LLP purchased a new stake in Brunswick Corporation (NYSE:BC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,177 shares of the company’s stock, valued at approximately $1,339,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of Brunswick by 10.7% in the first quarter. Royal Bank of Canada now owns 149,000 shares of the company’s stock worth $8,024,000 after acquiring an additional 14,395 shares during the period. AQR Capital Management LLC increased its position in Brunswick by 133.6% during the 1st quarter. AQR Capital Management LLC now owns 77,326 shares of the company’s stock valued at $4,076,000 after purchasing an additional 44,228 shares during the period. Goldman Sachs Group Inc. raised its holdings in Brunswick by 142.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 346,503 shares of the company’s stock worth $18,659,000 after purchasing an additional 203,838 shares during the last quarter. United Services Automobile Association bought a new position in Brunswick during the 1st quarter worth approximately $214,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Brunswick by 477.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 727 shares of the company’s stock worth $39,000 after purchasing an additional 601 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Stock Performance

Shares of BC stock opened at $68.90 on Friday. The firm has a 50 day moving average of $83.15 and a 200-day moving average of $72.65. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -32.50 and a beta of 1.39. The company has a quick ratio of 0.61, a current ratio of 1.44 and a debt-to-equity ratio of 1.11. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $90.25.

Brunswick (NYSE:BC) last released its earnings results on Thursday, January 29th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.21 billion. Brunswick had a negative net margin of 2.56% and a positive return on equity of 12.22%. Brunswick’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 EPS. On average, equities analysts forecast that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.44 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, February 23rd. Brunswick’s dividend payout ratio (DPR) is currently -83.02%.

Insider Transactions at Brunswick

In other news, VP Christopher F. Dekker sold 4,981 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $87.38, for a total transaction of $435,239.78. Following the transaction, the vice president owned 39,740 shares of the company’s stock, valued at $3,472,481.20. This represents a 11.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Foulkes sold 38,266 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $86.56, for a total value of $3,312,304.96. Following the completion of the sale, the chief executive officer owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This represents a 12.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a research note on Monday, December 29th. Morgan Stanley set a $82.00 target price on shares of Brunswick in a report on Tuesday, February 17th. Benchmark upped their price target on shares of Brunswick from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wall Street Zen downgraded Brunswick from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Finally, Wolfe Research set a $90.00 price objective on Brunswick in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Brunswick currently has an average rating of “Hold” and an average target price of $84.00.

Brunswick Company Profile

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.