Geode Capital Management LLC lessened its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 57.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,015 shares of the company's stock after selling 119,171 shares during the period. Geode Capital Management LLC owned approximately 0.12% of BRP worth $4,528,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in BRP by 41.5% during the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock valued at $43,461,000 after acquiring an additional 214,626 shares during the last quarter. Addenda Capital Inc. increased its position in BRP by 10.5% during the 4th quarter. Addenda Capital Inc. now owns 13,331 shares of the company's stock valued at $678,000 after buying an additional 1,265 shares in the last quarter. Van ECK Associates Corp increased its position in BRP by 699.9% during the 4th quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock valued at $3,875,000 after buying an additional 66,627 shares in the last quarter. CIBC Asset Management Inc boosted its stake in BRP by 14.0% in the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock worth $7,270,000 after purchasing an additional 16,379 shares in the last quarter. Finally, Alberta Investment Management Corp increased its position in shares of BRP by 44.2% in the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company's stock valued at $2,408,000 after acquiring an additional 14,500 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Raymond James restated a "strong-buy" rating on shares of BRP in a research report on Thursday, March 27th. UBS Group dropped their price objective on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. TD Securities restated a "hold" rating on shares of BRP in a research report on Thursday, March 27th. Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Finally, Baird R W downgraded BRP from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $53.75.
Read Our Latest Report on DOOO
BRP Stock Performance
Shares of BRP stock traded up $0.17 on Thursday, reaching $34.06. The stock had a trading volume of 43,935 shares, compared to its average volume of 155,481. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $74.00. The business's 50-day moving average price is $36.62 and its two-hundred day moving average price is $45.26. The stock has a market cap of $2.49 billion, a P/E ratio of 18.11 and a beta of 1.71.
BRP (NASDAQ:DOOO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. BRP had a return on equity of 61.20% and a net margin of 2.29%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. On average, sell-side analysts forecast that BRP Inc. will post 3.15 EPS for the current year.
BRP Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were given a $0.1508 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from BRP's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, April 4th. BRP's dividend payout ratio (DPR) is presently -29.21%.
BRP Profile
(
Free Report)
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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