Oppenheimer Asset Management Inc. Purchases New Holdings in Brunswick Corporation $BC

Oppenheimer Asset Management Inc. purchased a new stake in Brunswick Corporation (NYSE:BC) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 37,410 shares of the company’s stock, valued at approximately $2,067,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Brunswick by 59.3% in the first quarter. GAMMA Investing LLC now owns 1,276 shares of the company’s stock valued at $69,000 after buying an additional 475 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Brunswick by 7.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,349 shares of the company’s stock valued at $396,000 after acquiring an additional 484 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its position in shares of Brunswick by 63.2% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 12,361 shares of the company’s stock valued at $666,000 after acquiring an additional 4,787 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Brunswick by 171.6% during the 1st quarter. First Horizon Advisors Inc. now owns 755 shares of the company’s stock worth $41,000 after purchasing an additional 477 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Brunswick in the 1st quarter valued at about $520,000. Institutional investors own 99.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BC. Zacks Research cut Brunswick from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Jefferies Financial Group reiterated a “hold” rating and set a $65.00 target price on shares of Brunswick in a research note on Thursday, October 23rd. Wall Street Zen lowered Brunswick from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. JPMorgan Chase & Co. raised their price target on Brunswick from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, DA Davidson upped their price objective on shares of Brunswick from $43.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Brunswick presently has an average rating of “Hold” and an average target price of $72.69.

Brunswick Stock Performance

NYSE:BC opened at $68.23 on Thursday. The stock has a 50 day simple moving average of $64.67 and a 200 day simple moving average of $58.14. The stock has a market cap of $4.46 billion, a P/E ratio of -18.75 and a beta of 1.36. Brunswick Corporation has a 1-year low of $41.00 and a 1-year high of $87.65. The company has a current ratio of 1.78, a quick ratio of 0.73 and a debt-to-equity ratio of 1.28.

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

Brunswick Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 yield of 2.5%. Brunswick’s payout ratio is currently -47.25%.

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.