JPMorgan Chase & Co. Sells 190,479 Shares of Brunswick Corporation $BC

JPMorgan Chase & Co. lowered its holdings in shares of Brunswick Corporation (NYSE:BC) by 12.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,321,570 shares of the company’s stock after selling 190,479 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brunswick were worth $73,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Brunswick by 1.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,482,887 shares of the company’s stock worth $192,395,000 after acquiring an additional 43,361 shares during the period. Dimensional Fund Advisors LP raised its position in Brunswick by 20.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,504,407 shares of the company’s stock worth $134,857,000 after purchasing an additional 420,369 shares in the last quarter. Channing Capital Management LLC lifted its stake in Brunswick by 11.1% during the first quarter. Channing Capital Management LLC now owns 1,138,737 shares of the company’s stock worth $61,321,000 after purchasing an additional 113,614 shares during the period. Copeland Capital Management LLC boosted its holdings in Brunswick by 11.9% during the second quarter. Copeland Capital Management LLC now owns 1,008,883 shares of the company’s stock valued at $55,731,000 after purchasing an additional 107,429 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Brunswick by 29.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 999,717 shares of the company’s stock valued at $55,224,000 after purchasing an additional 228,897 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Brunswick Stock Performance

Shares of NYSE:BC opened at $66.11 on Friday. The business has a fifty day moving average of $64.60 and a 200-day moving average of $60.90. 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 Corporation has a twelve month low of $41.00 and a twelve month high of $82.03. The firm has a market cap of $4.30 billion, a PE ratio of -18.16 and a beta of 1.40.

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

Brunswick Dividend Announcement

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

Wall Street Analysts Forecast Growth

BC has been the subject of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Brunswick in a research report on Tuesday. Benchmark lifted their price objective on Brunswick from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, October 24th. Roth Capital set a $79.00 target price on shares of Brunswick and gave the company a “buy” rating in a research note on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $65.00 target price on shares of Brunswick in a research report on Thursday, October 23rd. Finally, Robert W. Baird lifted their price target on shares of Brunswick from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Brunswick presently has a consensus rating of “Hold” and a consensus price target of $73.54.

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.