Alberta Investment Management Corp Has $1.11 Million Stake in BRP Inc. (NASDAQ:DOOO)

Key Points

• Alberta Investment Management Corp decreased its holdings in BRP Inc. by 30.7%, selling 14,500 shares and retaining 32,800 shares valued at $1,107,000.
• Several institutional investors, including Fiera Capital Corp and Mackenzie Financial Corp, have increased their stakes in BRP, indicating continued interest from hedge funds.
• BRP recently announced a quarterly dividend increase from $0.15 to $0.1557, with an annual yield of 1.3% despite a negative payout ratio of -153.66%.

Alberta Investment Management Corp trimmed its holdings in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 30.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,800 shares of the company's stock after selling 14,500 shares during the period. Alberta Investment Management Corp's holdings in BRP were worth $1,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Fiera Capital Corp raised its stake in shares of BRP by 5.5% during the first quarter. Fiera Capital Corp now owns 135,330 shares of the company's stock worth $4,574,000 after buying an additional 7,082 shares during the last quarter. Mackenzie Financial Corp grew its holdings in BRP by 15.0% during the first quarter. Mackenzie Financial Corp now owns 1,884,728 shares of the company's stock valued at $63,636,000 after purchasing an additional 245,463 shares during the period. Addenda Capital Inc. grew its holdings in BRP by 10.3% during the first quarter. Addenda Capital Inc. now owns 14,699 shares of the company's stock valued at $497,000 after purchasing an additional 1,368 shares during the period. Public Employees Retirement System of Ohio grew its holdings in BRP by 401.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 15,019 shares of the company's stock valued at $765,000 after purchasing an additional 12,023 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in BRP by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,827 shares of the company's stock valued at $1,823,000 after purchasing an additional 293 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DOOO shares. Wall Street Zen upgraded shares of BRP from a "hold" rating to a "buy" rating in a report on Sunday, July 6th. Desjardins upgraded shares of BRP from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Citigroup restated a "neutral" rating and set a $51.00 price objective (up previously from $43.00) on shares of BRP in a report on Monday, June 16th. TD Securities upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Friday, May 30th. Finally, UBS Group decreased their price objective on shares of BRP from $45.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, BRP has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

BRP Stock Up 0.1%

Shares of BRP stock traded up $0.08 on Friday, hitting $51.64. The company had a trading volume of 139,787 shares, compared to its average volume of 228,677. The firm has a market capitalization of $3.77 billion, a P/E ratio of -126.21 and a beta of 1.24. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $72.84. The company has a debt-to-equity ratio of 5.85, a current ratio of 1.34 and a quick ratio of 0.58. The stock has a 50-day moving average of $49.08 and a 200-day moving average of $42.43.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.78 billion. Research analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were issued a dividend of $0.1557 per share. The ex-dividend date was Monday, June 30th. This is a positive change from BRP's previous quarterly dividend of $0.15. This represents a $0.62 annualized dividend and a yield of 1.2%. BRP's dividend payout ratio is currently -153.66%.

BRP Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in the United States, Canada, Europe, the Asia Pacific, Mexico, Austria, and internationally. The Powersports segment offers year-round products, such as Can-Am all-terrain vehicles, side-by-side vehicles, and three-wheeled vehicles; and seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo personal watercrafts and pontoons, Rotax engines for karts and recreational aircraft, and Pinion gearboxes with smart shift systems.