Dimensional Fund Advisors LP Grows Stock Position in BRP Inc. $DOO

Key Points

• Dimensional Fund Advisors increased its BRP stake by 11.2% in the first quarter, adding 20,786 shares to own 206,229 shares valued at approximately $14.8 million. Several other institutional investors also raised or initiated positions.
• Analysts remain cautious: BRP has a consensus “Hold” rating from MarketBeat, with four Buy ratings and ten Holds, and an average price target of $83. UBS recently cut its target from $78 to $68.
• BRP shares opened at $65.01, with the company carrying a $4.77 billion market capitalization. BRP also declared a quarterly dividend of $0.25 per share, equivalent to a 1.5% annual yield.

Dimensional Fund Advisors LP boosted its holdings in BRP Inc. (NASDAQ:DOO - Free Report) by 11.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 206,229 shares of the company's stock after buying an additional 20,786 shares during the period. Dimensional Fund Advisors LP owned 0.28% of BRP worth $14,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of BRP by 1.3% during the 1st quarter. Swiss National Bank now owns 72,600 shares of the company's stock valued at $5,211,000 after acquiring an additional 900 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of BRP by 68.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 16,147 shares of the company's stock worth $1,160,000 after acquiring an additional 6,552 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in shares of BRP by 4.8% in the first quarter. Pictet Asset Management Holding SA now owns 7,156 shares of the company's stock worth $513,000 after acquiring an additional 331 shares during the last quarter. Invesco Ltd. purchased a new stake in BRP in the fourth quarter valued at approximately $9,701,000. Finally, Summit Global Investments purchased a new stake in BRP in the fourth quarter valued at approximately $474,000.

Wall Street Analysts Forecast Growth

DOO has been the topic of a number of recent analyst reports. Scotiabank reaffirmed a "sector perform" rating on shares of BRP in a research note on Friday, July 24th. UBS Group lowered their price objective on shares of BRP from $78.00 to $68.00 and set a "neutral" rating for the company in a research note on Friday, June 5th. Weiss Ratings restated a "hold (c)" rating on shares of BRP in a report on Thursday, July 2nd. TD Securities restated a "hold" rating on shares of BRP in a report on Friday, May 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of BRP in a research report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, BRP currently has a consensus rating of "Hold" and a consensus price target of $83.00.

BRP Stock Up 1.8%

DOO opened at $65.01 on Friday. The firm has a 50 day moving average price of $60.63 and a 200 day moving average price of $65.20. The company has a market cap of $4.77 billion, a PE ratio of 24.53 and a beta of 0.88. BRP Inc. has a 1 year low of $48.83 and a 1 year high of $81.89. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30.

BRP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, June 30th. BRP's payout ratio is currently 26.42%.

BRP Profile

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.

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