Franklin Resources Inc. Increases Position in Brunswick Corporation $BC

Franklin Resources Inc. raised its position in shares of Brunswick Corporation (NYSE:BC) by 194.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 574,352 shares of the company’s stock after purchasing an additional 379,155 shares during the period. Franklin Resources Inc.’s holdings in Brunswick were worth $31,727,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BC. Verdence Capital Advisors LLC boosted its holdings in shares of Brunswick by 3.1% in the 2nd quarter. Verdence Capital Advisors LLC now owns 6,524 shares of the company’s stock worth $360,000 after purchasing an additional 195 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Brunswick by 24.7% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock valued at $58,000 after buying an additional 206 shares in the last quarter. Voya Investment Management LLC lifted its position in Brunswick by 2.8% in the 1st quarter. Voya Investment Management LLC now owns 8,196 shares of the company’s stock worth $441,000 after buying an additional 221 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in Brunswick by 41.3% in the second quarter. First Horizon Advisors Inc. now owns 1,067 shares of the company’s stock worth $59,000 after buying an additional 312 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Brunswick by 7.5% in the second quarter. Belpointe Asset Management LLC now owns 4,695 shares of the company’s stock worth $259,000 after buying an additional 329 shares in the last quarter. Institutional investors own 99.34% of the company’s stock.

Analyst Upgrades and Downgrades

BC has been the topic of several research reports. Citigroup lifted their price target on shares of Brunswick from $74.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Wall Street Zen lowered shares of Brunswick from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Benchmark boosted their price target on shares of Brunswick from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. Truist Financial upped their price target on shares of Brunswick from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley raised their price objective on Brunswick from $51.00 to $72.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.54.

Brunswick Trading Down 1.0%

NYSE:BC opened at $66.62 on Thursday. The firm has a market capitalization of $4.33 billion, a P/E ratio of -18.30 and a beta of 1.40. The company has a quick ratio of 0.73, a current ratio of 1.78 and a debt-to-equity ratio of 1.28. The company has a fifty day moving average of $64.52 and a 200 day moving average of $60.77. Brunswick Corporation has a 52 week low of $41.00 and a 52 week high of $83.00.

Brunswick (NYSE:BC) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.13. The firm had revenue of $1.36 billion for 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%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 earnings per share. Brunswick has set its FY 2025 guidance at 3.250-3.25 EPS. On average, research analysts predict that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.72 dividend on an annualized basis and a yield of 2.6%. Brunswick’s dividend payout ratio is presently -47.25%.

Brunswick 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.