American Century Companies Inc. Sells 431,337 Shares of BRP Inc. $DOOO

Key Points

• American Century Companies Inc. reduced its holdings in BRP Inc. by 29.6%, decreasing to approximately 1.40% of the company, after selling 431,337 shares during the 1st quarter.
• Multiple analysts upgraded BRP's stock rating, with the current consensus being a Moderate Buy and an average price target of $43.00.
• BRP recently announced a quarterly dividend increase, raising it from $0.15 to $0.1557 per share, reflecting a 1.1% dividend yield.

American Century Companies Inc. lessened its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 29.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,023,960 shares of the company's stock after selling 431,337 shares during the period. American Century Companies Inc. owned 1.40% of BRP worth $34,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DOOO. Russell Investments Group Ltd. raised its position in shares of BRP by 75.3% during the 1st quarter. Russell Investments Group Ltd. now owns 3,820 shares of the company's stock valued at $129,000 after buying an additional 1,641 shares in the last quarter. Nuveen LLC purchased a new stake in shares of BRP during the 1st quarter valued at about $990,000. Aigen Investment Management LP purchased a new stake in shares of BRP during the 1st quarter valued at about $451,000. Invesco Ltd. raised its position in shares of BRP by 6.2% during the 1st quarter. Invesco Ltd. now owns 1,234,801 shares of the company's stock valued at $41,749,000 after buying an additional 71,544 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of BRP by 20.0% during the 1st quarter. National Bank of Canada FI now owns 495,657 shares of the company's stock valued at $16,731,000 after buying an additional 82,723 shares in the last quarter.

BRP Trading Down 1.7%

Shares of NASDAQ:DOOO traded down $0.97 during trading on Monday, reaching $57.42. 224,900 shares of the company were exchanged, compared to its average volume of 234,047. The firm has a market capitalization of $4.19 billion, a PE ratio of -140.05 and a beta of 1.24. The business's fifty day simple moving average is $51.06 and its 200-day simple moving average is $42.84. BRP Inc. has a 12-month low of $31.78 and a 12-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.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.78 billion. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. On average, research analysts anticipate that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were given a dividend of $0.1557 per share. This is a boost from BRP's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.62 dividend on an annualized basis and a yield of 1.1%. BRP's dividend payout ratio is presently -153.66%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of BRP from a "hold" rating to a "buy" rating in a research report on Sunday, July 6th. Desjardins upgraded shares of BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. TD Securities upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. Citigroup restated a "neutral" rating and set a $51.00 target price (up from $43.00) on shares of BRP in a research report on Monday, June 16th. Finally, Stifel Canada raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

About BRP

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.