Teacher Retirement System of Texas Purchases 3,385 Shares of Brunswick Corporation $BC

Teacher Retirement System of Texas raised its position in shares of Brunswick Corporation (NYSE:BC) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,034 shares of the company’s stock after buying an additional 3,385 shares during the quarter. Teacher Retirement System of Texas’ holdings in Brunswick were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BC. Bessemer Group Inc. increased its stake in shares of Brunswick by 17.1% in the 2nd quarter. Bessemer Group Inc. now owns 6,726 shares of the company’s stock worth $372,000 after acquiring an additional 983 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Brunswick by 14.3% in the second quarter. Envestnet Asset Management Inc. now owns 237,783 shares of the company’s stock worth $13,095,000 after purchasing an additional 29,795 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Brunswick during the second quarter valued at approximately $2,067,000. State of New Jersey Common Pension Fund D increased its stake in shares of Brunswick by 18.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 36,743 shares of the company’s stock valued at $2,030,000 after purchasing an additional 5,652 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Brunswick by 23,628.6% during the second quarter. AlphaQuest LLC now owns 3,322 shares of the company’s stock valued at $184,000 after purchasing an additional 3,308 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Performance

Shares of BC opened at $65.72 on Friday. The business’s fifty day simple moving average is $64.88 and its two-hundred day simple moving average is $59.11. 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 Corporation has a 12 month low of $41.00 and a 12 month high of $87.65. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -18.05 and a beta of 1.40.

Brunswick (NYSE:BC) last posted its quarterly earnings results 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. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Brunswick had a positive return on equity of 10.55% and a negative net margin of 4.60%.The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. 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 fiscal year.

Brunswick Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.43 per share. The ex-dividend date is Wednesday, November 26th. This represents a $1.72 annualized dividend and a yield of 2.6%. Brunswick’s dividend payout ratio is currently -47.25%.

Wall Street Analyst Weigh In

BC has been the topic of several recent research reports. Roth Capital set a $79.00 price target on Brunswick and gave the stock a “buy” rating in a research note on Thursday, October 30th. B. Riley lifted their price objective on Brunswick from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, September 8th. Truist Financial boosted their target price on Brunswick from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Jefferies Financial Group reissued a “hold” rating and issued a $65.00 target price on shares of Brunswick in a research note on Thursday, October 23rd. Finally, BMO Capital Markets lifted their price target on Brunswick from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Brunswick presently has a consensus rating of “Hold” and a consensus target price 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.