Allianz Asset Management GmbH Boosts Stock Holdings in Brunswick Corporation $BC

Allianz Asset Management GmbH raised its position in shares of Brunswick Corporation (NYSE:BC) by 191.0% in the third quarter, Holdings Channel.com reports. The fund owned 214,150 shares of the company’s stock after acquiring an additional 140,566 shares during the quarter. Allianz Asset Management GmbH’s holdings in Brunswick were worth $13,543,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BC. First Horizon Corp purchased a new stake in shares of Brunswick during the third quarter worth approximately $26,000. Jones Financial Companies Lllp boosted its stake in Brunswick by 50.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 494 shares of the company’s stock worth $31,000 after purchasing an additional 166 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Brunswick during the third quarter worth $37,000. Quent Capital LLC purchased a new stake in shares of Brunswick during the third quarter worth $38,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Brunswick by 477.0% in the first quarter. Geneos Wealth Management Inc. now owns 727 shares of the company’s stock valued at $39,000 after buying an additional 601 shares during the last quarter. 99.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David M. Foulkes sold 38,266 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $86.56, for a total transaction of $3,312,304.96. Following the completion of the sale, the chief executive officer directly owned 271,169 shares of the company’s stock, valued at approximately $23,472,388.64. This trade represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group set a $115.00 price target on shares of Brunswick and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Morgan Stanley set a $81.00 target price on Brunswick in a report on Friday, January 16th. BMO Capital Markets upped their price target on Brunswick from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Citigroup lifted their price objective on Brunswick from $100.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, B. Riley Financial reissued a “neutral” rating and set a $80.00 price objective (up previously from $70.00) on shares of Brunswick in a research note on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brunswick has a consensus rating of “Hold” and a consensus price target of $83.93.

Brunswick Stock Up 1.5%

BC stock opened at $87.95 on Friday. Brunswick Corporation has a one year low of $41.00 and a one year high of $89.61. The firm has a market cap of $5.72 billion, a PE ratio of -41.49 and a beta of 1.39. The firm’s 50 day moving average price is $79.62 and its 200-day moving average price is $69.28. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.61 and a current ratio of 1.44.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Brunswick had a positive return on equity of 12.22% and a negative net margin of 2.56%.The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities research analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick 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.