TD Asset Management Inc Sells 24,672 Shares of BRP Inc. (NASDAQ:DOOO)

Key Points

• TD Asset Management Inc has reduced its stake in BRP Inc. by 13.3%, now holding approximately 161,008 shares valued at $5.4 million.
• Analysts have mixed ratings on BRP, with Citigroup upgrading its price objective to $51 and several firms changing their ratings, resulting in a consensus rating of "Moderate Buy."
• BRP recently increased its quarterly dividend to $0.1557, marking a yield of 1.3% and a boost from the previous $0.15 dividend.

TD Asset Management Inc reduced its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,008 shares of the company's stock after selling 24,672 shares during the period. TD Asset Management Inc owned about 0.22% of BRP worth $5,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of BRP by 259.3% during the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after buying an additional 490 shares in the last quarter. Dnca Finance increased its position in shares of BRP by 36.1% in the fourth quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after acquiring an additional 369 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of BRP in the fourth quarter worth approximately $229,000. Quantinno Capital Management LP purchased a new position in shares of BRP in the fourth quarter worth approximately $298,000. Finally, Barclays PLC increased its position in shares of BRP by 529.1% in the fourth quarter. Barclays PLC now owns 8,707 shares of the company's stock worth $443,000 after acquiring an additional 7,323 shares in the last quarter.

Analysts Set New Price Targets

DOOO has been the topic of several analyst reports. Citigroup reissued a "neutral" rating and issued a $51.00 target price (up from $43.00) on shares of BRP in a research report on Monday, June 16th. TD Securities raised shares of BRP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 30th. Wall Street Zen raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Sunday, July 6th. 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 raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.00.

BRP Stock Performance

NASDAQ:DOOO traded up $0.19 during trading hours on Wednesday, hitting $51.09. 289,556 shares of the company traded hands, compared to its average volume of 229,427. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -124.61 and a beta of 1.24. BRP Inc. has a twelve month low of $31.78 and a twelve month high of $72.84. The firm has a 50-day moving average of $48.56 and a 200 day moving average of $42.37. The company has a current ratio of 1.34, a quick ratio of 0.58 and a debt-to-equity ratio of 5.85.

BRP (NASDAQ:DOOO - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. BRP had a negative net margin of 0.55% and a positive return on equity of 54.71%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, analysts forecast that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were paid a $0.1557 dividend. This is a boost from BRP's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.62 annualized dividend and a dividend yield of 1.2%. BRP's payout ratio is -153.66%.

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.