Baillie Gifford & Co. Sells 63,843 Shares of Brunswick Co. (NYSE:BC)

Baillie Gifford & Co. decreased its position in Brunswick Co. (NYSE:BC) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,367,140 shares of the company’s stock after selling 63,843 shares during the quarter. Baillie Gifford & Co.’s holdings in Brunswick were worth $198,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GSA Capital Partners LLP lifted its position in Brunswick by 21.8% during the 3rd quarter. GSA Capital Partners LLP now owns 7,265 shares of the company’s stock worth $609,000 after acquiring an additional 1,299 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Brunswick during the 3rd quarter worth about $341,000. Chartwell Investment Partners LLC bought a new stake in Brunswick during the 3rd quarter valued at approximately $1,684,000. State of New Jersey Common Pension Fund D grew its holdings in Brunswick by 2.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 24,190 shares of the company’s stock valued at $2,028,000 after buying an additional 551 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Brunswick by 669.0% in the 3rd quarter. Covestor Ltd now owns 969 shares of the company’s stock valued at $81,000 after buying an additional 843 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BC has been the subject of several research reports. Robert W. Baird reduced their price objective on Brunswick from $95.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Benchmark reissued a “buy” rating and issued a $100.00 price target on shares of Brunswick in a report on Friday, October 25th. Citigroup boosted their price objective on shares of Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $70.00 target price (down previously from $115.00) on shares of Brunswick in a research note on Friday, July 26th. Finally, Northcoast Research upgraded Brunswick from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, July 29th. Six equities 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 currently has an average rating of “Moderate Buy” and a consensus price target of $89.23.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 366 shares of Brunswick stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the sale, the director now directly owns 24,557 shares of the company’s stock, valued at approximately $1,969,225.83. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brunswick news, Director Nancy E. Cooper sold 366 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total transaction of $29,349.54. Following the transaction, the director now directly owns 24,557 shares in the company, valued at approximately $1,969,225.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David M. Foulkes sold 23,829 shares of Brunswick stock in a transaction that occurred 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 sale, the chief executive officer now owns 251,094 shares of the company’s stock, valued at approximately $20,142,760.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 in the last quarter. Insiders own 0.81% of the company’s stock.

Brunswick Price Performance

Shares of BC stock opened at $83.27 on Tuesday. Brunswick Co. has a 52 week low of $69.05 and a 52 week high of $99.68. The stock has a market capitalization of $5.49 billion, a PE ratio of 20.71 and a beta of 1.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.74 and a current ratio of 1.97. The stock’s fifty day moving average is $81.09 and its 200-day moving average is $78.82.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Wednesday, November 20th. 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.