TD Asset Management Inc Sells 33,364 Shares of BRP Inc. $DOOO

Key Points

• TD Asset Management Inc reduced its stake in BRP Inc. by 20.7%, selling 33,364 shares and owning approximately 0.17% of the company valued at $6,183,000 after the sale.
• Several institutional investors have altered their stakes in BRP, with Montrusco Bolton Investments Inc. acquiring a new stake worth about $11,139,000 during the 2nd quarter.
• BRP recently declared a quarterly dividend increase to $0.215 from $0.16, reflecting an annualized yield of 1.3% for shareholders as of September 30th.

TD Asset Management Inc cut its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,644 shares of the company's stock after selling 33,364 shares during the quarter. TD Asset Management Inc owned about 0.17% of BRP worth $6,183,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Montrusco Bolton Investments Inc. purchased a new stake in shares of BRP in the 2nd quarter worth about $11,139,000. Addenda Capital Inc. lifted its position in BRP by 24.3% during the 2nd quarter. Addenda Capital Inc. now owns 18,274 shares of the company's stock valued at $886,000 after acquiring an additional 3,575 shares during the period. Public Employees Retirement System of Ohio lifted its position in BRP by 9.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 15,306 shares of the company's stock valued at $742,000 after acquiring an additional 1,265 shares during the period. Acadian Asset Management LLC purchased a new position in BRP during the 1st quarter valued at about $70,000. Finally, Jane Street Group LLC lifted its position in BRP by 110.9% during the 1st quarter. Jane Street Group LLC now owns 138,051 shares of the company's stock valued at $4,663,000 after acquiring an additional 72,581 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOOO. Canaccord Genuity Group raised shares of BRP from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. CIBC raised shares of BRP from a "neutral" rating to a "sector outperform" rating in a research report on Tuesday, September 2nd. Citigroup raised shares of BRP from a "neutral" rating to a "buy" rating and lifted their price target for the company from $68.00 to $73.00 in a research report on Wednesday, October 1st. BMO Capital Markets restated an "outperform" rating on shares of BRP in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of BRP in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.60.

BRP Stock Up 1.1%

NASDAQ:DOOO opened at $67.43 on Monday. The firm has a market cap of $4.93 billion, a P/E ratio of -280.96 and a beta of 1.19. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.55 and a current ratio of 1.34. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $68.45. The firm has a 50-day simple moving average of $62.31 and a two-hundred day simple moving average of $49.67.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings data on Friday, August 29th. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.34. BRP had a negative net margin of 0.34% and a positive return on equity of 61.26%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.77 billion. BRP has set its FY 2026 guidance at 3.090-3.460 EPS. Analysts predict that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th were paid a $0.215 dividend. This is a boost from BRP's previous quarterly dividend of $0.16. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 30th. BRP's dividend payout ratio (DPR) is presently -262.50%.

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.

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