Bessemer Group Inc. Buys 983 Shares of Brunswick Corporation $BC

Bessemer Group Inc. lifted its stake in shares of Brunswick Corporation (NYSE:BC) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,726 shares of the company’s stock after acquiring an additional 983 shares during the period. Bessemer Group Inc.’s holdings in Brunswick were worth $372,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Verdence Capital Advisors LLC boosted its holdings in Brunswick by 3.1% during the second quarter. Verdence Capital Advisors LLC now owns 6,524 shares of the company’s stock worth $360,000 after purchasing an additional 195 shares during the last quarter. Blue Trust Inc. boosted its holdings in Brunswick by 24.7% during the second quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $58,000 after purchasing an additional 206 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Brunswick by 2.8% during the first quarter. Voya Investment Management LLC now owns 8,196 shares of the company’s stock worth $441,000 after purchasing an additional 221 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Brunswick by 7.5% during the second quarter. Belpointe Asset Management LLC now owns 4,695 shares of the company’s stock worth $259,000 after purchasing an additional 329 shares during the last quarter. Finally, Peterson Wealth Services boosted its holdings in Brunswick by 2.5% during the first quarter. Peterson Wealth Services now owns 13,599 shares of the company’s stock worth $732,000 after purchasing an additional 331 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Stock Performance

NYSE BC opened at $66.12 on Monday. The firm has a 50-day moving average of $64.78 and a 200-day moving average of $58.56. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.73 and a current ratio of 1.78. The stock has a market cap of $4.32 billion, a PE ratio of -18.17 and a beta of 1.36. Brunswick Corporation has a 52-week low of $41.00 and a 52-week high of $87.65.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.13. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Brunswick had a negative net margin of 4.60% and a positive return on equity of 10.55%. Brunswick’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.17 EPS. Brunswick has set its FY 2025 guidance at 3.250-3.25 EPS. On average, sell-side analysts anticipate that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, November 26th. Brunswick’s dividend payout ratio (DPR) is currently -47.25%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Brunswick from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Morgan Stanley increased their target price on shares of Brunswick from $51.00 to $72.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. Robert W. Baird increased their target price on shares of Brunswick from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Zacks Research cut shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brunswick in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.54.

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.