Russell Investments Group Ltd. Has $553,000 Holdings in BRP Inc. $DOO

Key Points

• Russell Investments Group cut its BRP holdings by 77.4% in the second quarter, selling 30,926 shares and retaining 9,052 shares valued at approximately $553,000.
• Analyst sentiment is mixed, with four Buy ratings and ten Hold ratings; BRP has a consensus rating of Hold and an average price target of $83.00.
• BRP shares opened at $64.51, while the company maintains a quarterly dividend of $0.25, equivalent to a $1.00 annualized payout and a 1.6% yield.

Russell Investments Group Ltd. lessened its holdings in BRP Inc. (NASDAQ:DOO - Free Report) by 77.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,052 shares of the company's stock after selling 30,926 shares during the quarter. Russell Investments Group Ltd.'s holdings in BRP were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DOO. Quarry LP bought a new stake in BRP in the fourth quarter valued at $30,000. Caitong International Asset Management Co. Ltd raised its position in BRP by 4,070.6% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the company's stock valued at $43,000 after buying an additional 692 shares during the last quarter. Quadrant Capital Group LLC purchased a new stake in BRP in the 4th quarter valued at $89,000. PNC Financial Services Group Inc. bought a new position in BRP during the 4th quarter valued at $142,000. Finally, Intact Investment Management Inc. bought a new position in BRP during the 4th quarter valued at $156,000.

Analyst Upgrades and Downgrades

DOO has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of BRP in a research report on Friday, May 29th. Raymond James Financial downgraded shares of BRP from a "strong-buy" rating to a "market perform" rating in a research report on Friday, April 24th. Weiss Ratings reissued a "hold (c)" rating on shares of BRP in a research report on Thursday, July 2nd. TD Securities reaffirmed a "hold" rating on shares of BRP in a research report on Friday, May 29th. Finally, Citigroup dropped their price target on BRP from $75.00 to $74.00 and set a "buy" rating on the stock in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $83.00.

BRP Price Performance

BRP stock opened at $64.51 on Friday. The firm has a market capitalization of $4.73 billion, a P/E ratio of 24.34 and a beta of 0.88. BRP Inc. has a one year low of $48.83 and a one year high of $81.89. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61. The business has a fifty day moving average price of $60.99 and a 200-day moving average price of $64.70.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were paid a $0.25 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 1.6%. BRP's dividend payout ratio (DPR) is currently 26.42%.

About BRP

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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