Brunswick Corporation $BC Stock Holdings Trimmed by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC reduced its stake in Brunswick Corporation by 81.0% in the first quarter, now holding 144,021 shares valued at approximately $7.76 million.
• Brunswick recently announced a quarterly dividend of $0.43, representing an annualized yield of 2.7% with a payout ratio of 277.42%.
• Analyst ratings for Brunswick show a mix of recommendations, with six hold ratings and seven buy ratings, alongside a consensus target price of $68.25.

Lord Abbett & CO. LLC reduced its position in Brunswick Corporation (NYSE:BC - Free Report) by 81.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,021 shares of the company's stock after selling 613,983 shares during the period. Lord Abbett & CO. LLC owned about 0.22% of Brunswick worth $7,756,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in Brunswick by 17.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,439,526 shares of the company's stock valued at $185,218,000 after buying an additional 516,970 shares during the last quarter. Turtle Creek Asset Management Inc. boosted its holdings in shares of Brunswick by 19.7% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,965,460 shares of the company's stock worth $191,806,000 after purchasing an additional 488,412 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Brunswick by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,084,038 shares of the company's stock worth $134,796,000 after purchasing an additional 10,951 shares during the last quarter. Van Berkom & Associates Inc. boosted its holdings in shares of Brunswick by 19.2% during the first quarter. Van Berkom & Associates Inc. now owns 971,648 shares of the company's stock worth $52,323,000 after purchasing an additional 156,816 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Brunswick by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 770,820 shares of the company's stock worth $41,509,000 after purchasing an additional 4,311 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Down 2.4%

Shares of NYSE BC traded down $1.5150 during midday trading on Wednesday, reaching $62.7050. 771,875 shares of the company's stock were exchanged, compared to its average volume of 962,119. Brunswick Corporation has a 52-week low of $41.00 and a 52-week high of $87.65. The stock has a market capitalization of $4.10 billion, a PE ratio of 101.14 and a beta of 1.28. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.70 and a current ratio of 1.68. The business's fifty day moving average price is $58.92 and its two-hundred day moving average price is $55.71.

Brunswick (NYSE:BC - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.16 earnings per share (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 analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. Brunswick has set its FY 2025 guidance at 3.250-3.250 EPS. Q3 2025 guidance at 0.750-0.900 EPS. Analysts forecast that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BC shares. DA Davidson raised their price objective on Brunswick from $43.00 to $59.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Citigroup reiterated a "buy" rating and issued a $68.00 target price (up previously from $61.00) on shares of Brunswick in a report on Monday, June 16th. Jefferies Financial Group reduced their target price on Brunswick from $64.00 to $45.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Roth Capital lifted their target price on Brunswick from $60.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, BMO Capital Markets reduced their target price on Brunswick from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Brunswick presently has a consensus rating of "Moderate Buy" and an average price target of $68.25.

Insider Activity

In other news, VP Christopher F. Dekker sold 2,092 shares of Brunswick stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $58.47, for a total transaction of $122,319.24. Following the sale, the vice president directly owned 44,466 shares of the company's stock, valued at approximately $2,599,927.02. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company's stock.

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.