Citigroup Inc. Purchases 1,980 Shares of Brunswick Co. (NYSE:BC)

Citigroup Inc. grew its position in shares of Brunswick Co. (NYSE:BC) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 326,629 shares of the company’s stock after buying an additional 1,980 shares during the quarter. Citigroup Inc. owned approximately 0.50% of Brunswick worth $27,378,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other news, Director Joseph W. Mcclanathan sold 4,745 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total value of $380,264.30. Following the completion of the transaction, the director now owns 19,218 shares in the company, valued at $1,540,130.52. This trade represents a 19.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the sale, the director now owns 24,557 shares in the company, valued at $1,969,225.83. The trade was a 1.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,940 shares of company stock worth $2,321,176. 0.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BC shares. Benchmark reaffirmed a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. Northcoast Research upgraded shares of Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Monday, July 29th. Finally, Citigroup increased 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. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.23.

Brunswick Stock Up 4.2 %

Shares of BC stock opened at $85.82 on Tuesday. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.35 and a beta of 1.51. Brunswick Co. has a 12-month low of $69.05 and a 12-month high of $99.68. The firm has a fifty day moving average of $81.92 and a 200-day moving average of $78.78. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17.

Brunswick Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.68 annualized dividend and a dividend yield of 1.96%. Brunswick’s dividend payout ratio is currently 41.79%.

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.