Federation des caisses Desjardins du Quebec Sells 6,956 Shares of BRP Inc. $DOOO

Key Points

• Federation des caisses Desjardins du Quebec has reduced its stake in BRP Inc. by 5.4%, now holding 122,710 shares valued at approximately $4.14 million.
• Multiple brokerages have upgraded BRP's stock ratings, with four now giving it a "Strong Buy" rating, contributing to a consensus rating of "Moderate Buy" and an average target price of $62.75.
• BRP announced a quarterly dividend increase to $0.215 per share, reflecting a boost from its previous dividend of $0.16 and projecting an annual yield of 1.3%.

Federation des caisses Desjardins du Quebec reduced its position in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,710 shares of the company's stock after selling 6,956 shares during the quarter. Federation des caisses Desjardins du Quebec owned about 0.17% of BRP worth $4,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in BRP by 71.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,639,265 shares of the company's stock worth $83,399,000 after buying an additional 684,651 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its stake in shares of BRP by 29.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,970,680 shares of the company's stock worth $151,118,000 after buying an additional 668,607 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of BRP by 14.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,744,879 shares of the company's stock valued at $92,805,000 after acquiring an additional 346,114 shares in the last quarter. National Bank of Canada FI increased its position in shares of BRP by 20.0% during the first quarter. National Bank of Canada FI now owns 495,657 shares of the company's stock valued at $16,731,000 after acquiring an additional 82,723 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in BRP by 6.2% during the first quarter. Invesco Ltd. now owns 1,234,801 shares of the company's stock worth $41,749,000 after acquiring an additional 71,544 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DOOO shares. National Bankshares set a $105.00 target price on BRP and gave the stock a "sector perform" rating in a research note on Tuesday, September 2nd. Canaccord Genuity Group raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of BRP in a report on Tuesday, September 2nd. Wall Street Zen raised BRP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th. Finally, Scotiabank restated a "sector perform" rating on shares of BRP in a research note on Tuesday, September 2nd. Four research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

BRP Price Performance

Shares of DOOO traded down $3.09 during midday trading on Tuesday, hitting $65.27. 425,176 shares of the company traded hands, compared to its average volume of 246,890. The stock has a 50-day moving average of $54.24 and a 200-day moving average of $44.37. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.34 and a quick ratio of 0.55. BRP Inc. has a one year low of $31.78 and a one year high of $68.42. The firm has a market cap of $4.77 billion, a P/E ratio of -271.96 and a beta of 1.19.

BRP (NASDAQ:DOOO - Get Free Report) last posted its earnings results on Friday, August 29th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.34. BRP had a negative net margin of 0.34% and a positive return on equity of 61.26%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. As a group, sell-side analysts predict that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th will be paid a $0.215 dividend. This is an increase from BRP's previous quarterly dividend of $0.16. This represents a $0.86 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 30th. BRP's payout ratio is -262.50%.

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.