Gabelli Funds LLC Has $6.98 Million Stake in Brunswick Corporation $BC

Gabelli Funds LLC boosted its position in shares of Brunswick Corporation (NYSE:BC) by 37.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,292 shares of the company’s stock after purchasing an additional 34,292 shares during the period. Gabelli Funds LLC owned 0.19% of Brunswick worth $6,976,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BC. Harbor Capital Advisors Inc. grew its position in Brunswick by 26.5% during the second quarter. Harbor Capital Advisors Inc. now owns 26,344 shares of the company’s stock valued at $1,455,000 after purchasing an additional 5,526 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of Brunswick by 26.6% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 272,028 shares of the company’s stock valued at $15,027,000 after acquiring an additional 57,100 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Brunswick by 478.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 65,926 shares of the company’s stock worth $3,550,000 after acquiring an additional 54,536 shares during the last quarter. Bryn Mawr Trust Advisors LLC acquired a new position in shares of Brunswick in the second quarter worth $224,000. Finally, Garner Asset Management Corp raised its holdings in shares of Brunswick by 33.4% during the second quarter. Garner Asset Management Corp now owns 29,732 shares of the company’s stock worth $1,642,000 after acquiring an additional 7,444 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Brunswick Price Performance

NYSE BC opened at $71.51 on Wednesday. The company has a market cap of $4.65 billion, a P/E ratio of -19.64 and a beta of 1.37. Brunswick Corporation has a 1 year low of $41.00 and a 1 year high of $78.13. The company has a current ratio of 1.78, a quick ratio of 0.73 and a debt-to-equity ratio of 1.28. The company has a fifty day simple moving average of $65.54 and a 200 day simple moving average of $61.91.

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

Brunswick Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 26th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.72 annualized dividend and a yield of 2.4%. Brunswick’s dividend payout ratio is presently -47.25%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley upped their target price on Brunswick from $51.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Citigroup increased their price objective on Brunswick from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brunswick in a research report on Monday. Zacks Research downgraded shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Finally, B. Riley increased their price target on shares of Brunswick from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.