QV Investors Inc. Takes $31.70 Million Position in BRP Inc. $DOO

Key Points

• QV Investors Inc. purchased 447,754 shares of BRP (NASDAQ:DOO) in Q4 valued at approximately $31.70 million, making the position about 2.6% of QV’s portfolio and representing a 0.61% stake in BRP.
• BRP increased its quarterly dividend to $0.25 per share (up from $0.07), implying an annualized $1.00 payout (yield ~1.4%); the ex-dividend date is April 10 and the dividend is payable April 24.
• Analysts are broadly positive with a consensus rating of Moderate Buy and a $80.50 target, with recent actions including UBS raising its target to $75 (neutral), Wells Fargo initiating coverage as overweight, and Zacks upgrading to strong-buy.

QV Investors Inc. purchased a new position in BRP Inc. (NASDAQ:DOO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 447,754 shares of the company's stock, valued at approximately $31,701,000. BRP comprises approximately 2.6% of QV Investors Inc.'s investment portfolio, making the stock its 16th largest position. QV Investors Inc. owned 0.61% of BRP at the end of the most recent quarter.

BRP Stock Performance

DOO stock opened at $72.78 on Friday. The business's 50-day simple moving average is $72.71. The company has a current ratio of 1.27, a quick ratio of 0.56 and a debt-to-equity ratio of 3.92. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 25.01 and a beta of 1.15. BRP Inc. has a 1-year low of $31.78 and a 1-year high of $81.89.

BRP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be given a dividend of $0.25 per share. This is an increase from BRP's previous quarterly dividend of $0.07. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, April 10th. BRP's payout ratio is 21.65%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group increased their target price on BRP from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, January 9th. Wells Fargo & Company began coverage on BRP in a research report on Wednesday, March 11th. They set an "overweight" rating for the company. Zacks Research raised BRP from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 27th. Weiss Ratings reissued a "hold (c-)" rating on shares of BRP in a research note on Monday, March 23rd. Finally, Citigroup decreased their price objective on shares of BRP from $87.00 to $86.00 and set a "buy" rating for the company in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.50.

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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