QV Investors Inc. Sells 7,552 Shares of BRP Inc. (NASDAQ:DOOO)

QV Investors Inc. reduced its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 429,969 shares of the company's stock after selling 7,552 shares during the period. BRP makes up 1.5% of QV Investors Inc.'s investment portfolio, making the stock its 25th largest holding. QV Investors Inc. owned about 0.59% of BRP worth $14,516,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of BRP by 259.3% in the fourth quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock valued at $35,000 after purchasing an additional 490 shares during the last quarter. Signaturefd LLC raised its holdings in shares of BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock valued at $61,000 after purchasing an additional 903 shares during the last quarter. Dnca Finance raised its holdings in shares of BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock valued at $71,000 after purchasing an additional 369 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of BRP in the fourth quarter valued at about $77,000. Finally, Intact Investment Management Inc. purchased a new stake in shares of BRP in the fourth quarter valued at about $148,000.

BRP Price Performance

NASDAQ:DOOO traded up $0.62 during trading hours on Thursday, hitting $47.21. 58,401 shares of the company's stock traded hands, compared to its average volume of 164,956. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. BRP Inc. has a 52 week low of $31.78 and a 52 week high of $74.00. The firm has a market cap of $3.45 billion, a P/E ratio of 25.11 and a beta of 1.17. The business's fifty day simple moving average is $36.08 and its two-hundred day simple moving average is $42.83.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly 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. BRP had a net margin of 2.29% and a return on equity of 61.20%. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.78 billion. On average, research analysts anticipate that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Monday, June 30th will be issued a dividend of $0.1557 per share. This is a positive change from BRP's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Monday, June 30th. BRP's dividend payout ratio is currently -143.90%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DOOO shares. Stifel Canada upgraded shares of BRP from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 29th. Baird R W lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. UBS Group lowered their price objective on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Finally, Desjardins upgraded shares of BRP from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $38.33.

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.