State of New Jersey Common Pension Fund D Has $2.03 Million Stake in Brunswick Co. (NYSE:BC)

State of New Jersey Common Pension Fund D increased its position in shares of Brunswick Co. (NYSE:BC) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,190 shares of the company’s stock after buying an additional 551 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Brunswick were worth $2,028,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BC. Covestor Ltd lifted its stake in Brunswick by 669.0% in the third quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after buying an additional 843 shares during the period. Markel Group Inc. acquired a new position in shares of Brunswick during the 3rd quarter valued at $1,173,000. Principal Financial Group Inc. boosted its stake in Brunswick by 2.7% during the third quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after acquiring an additional 28,781 shares in the last quarter. M&G PLC grew its holdings in Brunswick by 3.9% in the third quarter. M&G PLC now owns 57,355 shares of the company’s stock worth $4,818,000 after purchasing an additional 2,137 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new stake in Brunswick in the third quarter valued at $219,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BC shares. Citigroup increased their price objective on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Northcoast Research raised Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Monday, July 29th. Robert W. Baird lowered their target price on Brunswick from $95.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group reissued a “hold” rating and issued a $70.00 price target (down previously from $115.00) on shares of Brunswick in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Brunswick from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Brunswick currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.23.

Brunswick Stock Performance

BC stock opened at $80.20 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The firm has a market cap of $5.29 billion, a PE ratio of 19.95 and a beta of 1.51. The business has a 50 day moving average of $81.41 and a 200-day moving average of $78.82. Brunswick Co. has a 12-month low of $69.05 and a 12-month high of $99.68.

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 20th. Brunswick’s payout ratio is 41.79%.

Insider Buying and Selling

In other news, CEO David M. Foulkes sold 23,829 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $80.22, for a total transaction of $1,911,562.38. Following the transaction, the chief executive officer now owns 251,094 shares of the company’s stock, valued at $20,142,760.68. This represents a 8.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph W. Mcclanathan sold 4,745 shares of Brunswick 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 sale, the director now directly owns 19,218 shares of the company’s stock, valued at approximately $1,540,130.52. This trade represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,940 shares of company stock valued at $2,321,176. 0.81% of the stock is owned by insiders.

Brunswick Company 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.