Bank of Montreal Can Sells 9,479 Shares of Brunswick Corporation $BC

Bank of Montreal Can trimmed its position in shares of Brunswick Corporation (NYSE:BC) by 33.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,468 shares of the company’s stock after selling 9,479 shares during the quarter. Bank of Montreal Can’s holdings in Brunswick were worth $1,020,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH grew its stake in shares of Brunswick by 125.2% during the first quarter. Allianz Asset Management GmbH now owns 10,047 shares of the company’s stock worth $541,000 after acquiring an additional 5,585 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Brunswick by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 207,988 shares of the company’s stock valued at $11,200,000 after purchasing an additional 10,173 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Brunswick by 26.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 26,344 shares of the company’s stock worth $1,455,000 after purchasing an additional 5,526 shares in the last quarter. XTX Topco Ltd purchased a new stake in Brunswick during the 1st quarter worth approximately $308,000. Finally, CCM Investment Group LLC acquired a new position in Brunswick during the 1st quarter valued at approximately $474,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

Shares of BC opened at $64.33 on Friday. The business’s 50-day moving average is $64.88 and its two-hundred day moving average is $59.84. The company has a market capitalization of $4.18 billion, a P/E ratio of -17.67 and a beta of 1.40. Brunswick Corporation has a fifty-two week low of $41.00 and a fifty-two week high of $87.65. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.73 and a current ratio of 1.78.

Brunswick (NYSE:BC) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.13. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Brunswick had a positive return on equity of 10.55% and a negative net margin of 4.60%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 EPS. Brunswick has set its FY 2025 guidance at 3.250-3.25 EPS. Research analysts predict that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 26th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, November 26th. Brunswick’s dividend payout ratio is currently -47.25%.

Analysts Set New Price Targets

A number of research firms have issued reports on BC. Jefferies Financial Group reaffirmed a “hold” rating and issued a $65.00 price target on shares of Brunswick in a report on Thursday, October 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research note on Thursday. Morgan Stanley lifted their price target on Brunswick from $51.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Truist Financial increased their price objective on Brunswick from $60.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Benchmark raised their price objective on Brunswick from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.