Versor Investments LP Purchases New Position in Brunswick Corporation $BC

Key Points

• Versor Investments LP acquired 4,351 shares of Brunswick Corporation, valued at approximately $234,000, during the first quarter of 2024.
• Brunswick recently reported earnings of $1.16 per share, surpassing expectations of $0.89, with revenue reaching $1.45 billion for the quarter.
• The company declared a quarterly dividend of $0.43 per share, representing an annual yield of 2.6%, with an unusually high dividend payout ratio of 277.42%.

Versor Investments LP purchased a new position in Brunswick Corporation (NYSE:BC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,351 shares of the company's stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Deutsche Bank AG grew its position in Brunswick by 0.6% during the fourth quarter. Deutsche Bank AG now owns 28,031 shares of the company's stock worth $1,813,000 after buying an additional 160 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Brunswick by 33.3% during the 1st quarter. Fifth Third Bancorp now owns 1,078 shares of the company's stock valued at $58,000 after acquiring an additional 269 shares during the last quarter. Peterson Wealth Services grew its holdings in shares of Brunswick by 2.5% during the first quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock worth $732,000 after purchasing an additional 331 shares in the last quarter. Snowden Capital Advisors LLC increased its position in shares of Brunswick by 6.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,297 shares of the company's stock worth $407,000 after purchasing an additional 378 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in 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 purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 99.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup reiterated a "buy" rating on shares of Brunswick in a research report on Wednesday. Roth Capital raised their price objective on shares of Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. DA Davidson upped their target price on shares of Brunswick from $43.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Zacks Research downgraded Brunswick from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Robert W. Baird lifted their price target on Brunswick from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Brunswick presently has an average rating of "Moderate Buy" and a consensus target price of $68.25.

Brunswick Trading Down 3.3%

Shares of NYSE BC traded down $2.15 during midday trading on Thursday, reaching $63.06. The company had a trading volume of 109,402 shares, compared to its average volume of 952,320. The stock has a market cap of $4.12 billion, a PE ratio of 101.58 and a beta of 1.28. Brunswick Corporation has a one year low of $41.00 and a one year high of $87.65. The firm's fifty day moving average price is $59.85 and its 200-day moving average price is $55.69. The company has a quick ratio of 0.70, a current ratio of 1.68 and a debt-to-equity ratio of 1.10.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.27. Brunswick had a return on equity of 10.73% and a net margin of 0.82%.The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the previous year, the firm earned $1.80 EPS. The business's quarterly revenue was up .2% on a year-over-year basis. Brunswick has set its FY 2025 guidance at 3.250-3.250 EPS. Q3 2025 guidance at 0.750-0.900 EPS. On average, equities research analysts anticipate that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 20th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, August 20th. Brunswick's dividend payout ratio is currently 277.42%.

Insiders Place Their Bets

In other Brunswick news, VP Christopher F. Dekker sold 2,092 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $58.47, for a total transaction of $122,319.24. Following the completion of the sale, the vice president owned 44,466 shares of the company's stock, valued at $2,599,927.02. This represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by insiders.

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.