Allianz Asset Management GmbH Buys 63,537 Shares of Brunswick Corporation $BC

Key Points

• Allianz Asset Management GmbH increased its stake in Brunswick Corporation by 632.4%, acquiring 63,537 additional shares, bringing its total holdings to 73,584 shares valued at approximately $4.07 million.
• Brunswick Corporation reported $0.97 earnings per share (EPS) for the latest quarter, surpassing analysts' expectations of $0.84, with a year-over-year revenue growth of 6.8% to $1.36 billion.
• The company has announced a quarterly dividend of $0.43 per share, equating to a 2.4% yield, with payment scheduled for December 15th to shareholders who are on record by November 26th.

Allianz Asset Management GmbH raised its stake in shares of Brunswick Corporation (NYSE:BC - Free Report) by 632.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 73,584 shares of the company's stock after acquiring an additional 63,537 shares during the period. Allianz Asset Management GmbH owned approximately 0.11% of Brunswick worth $4,065,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Verdence Capital Advisors LLC lifted its stake in Brunswick by 3.1% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,524 shares of the company's stock valued at $360,000 after acquiring an additional 195 shares during the period. Blue Trust Inc. increased its position 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 purchasing an additional 206 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of 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 purchasing an additional 221 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Brunswick by 7.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 4,695 shares of the company's stock worth $259,000 after purchasing an additional 329 shares during the period. Finally, Peterson Wealth Services lifted its stake in shares of Brunswick by 2.5% in the 1st quarter. Peterson Wealth Services now owns 13,599 shares of the company's stock worth $732,000 after purchasing an additional 331 shares during the period. Institutional investors own 99.34% of the company's stock.

Brunswick Trading Up 8.2%

Brunswick stock opened at $70.39 on Friday. The firm has a 50 day moving average of $64.10 and a 200 day moving average of $57.24. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 113.54 and a beta of 1.36. Brunswick Corporation has a 12-month low of $41.00 and a 12-month high of $87.65. The company has a current ratio of 1.68, a quick ratio of 0.70 and a debt-to-equity ratio of 1.10.

Brunswick (NYSE:BC - Get Free Report) last announced 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. Brunswick had a net margin of 0.82% and a return on equity of 10.73%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $1.17 EPS. The company'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. As a group, research analysts predict that Brunswick Corporation will post 4.19 earnings per share for the current year.

Brunswick Dividend Announcement

The business 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 dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 26th. Brunswick's dividend payout ratio (DPR) is 277.42%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Brunswick in a research note on Wednesday, August 27th. Truist Financial increased their price objective on shares of Brunswick from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. B. Riley increased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Brunswick from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Finally, Roth Capital increased their price objective on shares of Brunswick from $60.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $69.15.

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.

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