Charles Schwab Investment Management Inc. Purchases 1,765 Shares of Brunswick Co. (NYSE:BC)

Charles Schwab Investment Management Inc. raised its position in shares of Brunswick Co. (NYSE:BC) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 701,269 shares of the company’s stock after purchasing an additional 1,765 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Brunswick were worth $58,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BC. M&G Plc grew its holdings in Brunswick by 15.1% during the second quarter. M&G Plc now owns 55,218 shares of the company’s stock valued at $4,031,000 after purchasing an additional 7,261 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Brunswick by 292.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,224 shares of the company’s stock valued at $671,000 after acquiring an additional 6,874 shares during the period. Swedbank AB purchased a new stake in Brunswick in the 1st quarter worth approximately $19,304,000. Sei Investments Co. raised its stake in Brunswick by 7.6% during the 2nd quarter. Sei Investments Co. now owns 221,073 shares of the company’s stock worth $16,087,000 after acquiring an additional 15,602 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Brunswick during the second quarter valued at approximately $8,289,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Trading Down 0.1 %

Shares of BC opened at $80.51 on Friday. The company’s fifty day simple moving average is $81.79 and its 200-day simple moving average is $78.79. The company has a market cap of $5.31 billion, a P/E ratio of 20.03 and a beta of 1.51. The company has a current ratio of 1.97, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17. Brunswick Co. has a twelve month low of $69.05 and a twelve month high of $99.68.

Brunswick Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 20th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, November 20th. Brunswick’s payout ratio is currently 41.79%.

Wall Street Analysts Forecast Growth

BC has been the topic of a number of analyst reports. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and lowered their target price for the company from $95.00 to $88.00 in a research note on Tuesday. Citigroup upped their price objective on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Benchmark reissued a “buy” rating and set a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Brunswick currently has a consensus rating of “Moderate Buy” and an average target price of $88.54.

Insider Buying and Selling at Brunswick

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of Brunswick stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $80.14, for a total transaction of $380,264.30. Following the completion of the sale, the director now owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. The trade was a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David M. Foulkes sold 23,829 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 251,094 shares in the company, valued at $20,142,760.68. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 over the last 90 days. Company insiders own 0.81% of the company’s stock.

Brunswick Profile

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.