The Manufacturers Life Insurance Company Purchases 288,004 Shares of BRP Inc. (NASDAQ:DOOO)

The Manufacturers Life Insurance Company raised its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,514,230 shares of the company's stock after purchasing an additional 288,004 shares during the period. The Manufacturers Life Insurance Company owned 2.07% of BRP worth $77,223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOOO. Quadrant Capital Group LLC raised its holdings in shares of BRP by 259.3% in the 4th quarter. Quadrant Capital Group LLC now owns 679 shares of the company's stock worth $35,000 after acquiring an additional 490 shares during the last quarter. Signaturefd LLC lifted its stake in BRP by 296.1% in the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock valued at $61,000 after purchasing an additional 903 shares during the last quarter. Dnca Finance grew its stake in shares of BRP by 36.1% during the 4th quarter. Dnca Finance now owns 1,390 shares of the company's stock worth $71,000 after acquiring an additional 369 shares during the period. C M Bidwell & Associates Ltd. bought a new position in BRP during the fourth quarter worth about $77,000. Finally, Intact Investment Management Inc. purchased a new position in BRP in the 4th quarter valued at approximately $148,000.

BRP Stock Up 2.3 %

DOOO traded up $0.78 during midday trading on Friday, reaching $34.54. The company's stock had a trading volume of 182,093 shares, compared to its average volume of 156,709. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. The stock's 50-day moving average is $36.35 and its 200-day moving average is $44.93. BRP Inc. has a 1 year low of $31.78 and a 1 year high of $74.00. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 18.37 and a beta of 1.71.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.97 billion. As a group, research analysts expect 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. Investors of record on Friday, April 4th were given a dividend of $0.1508 per share. The ex-dividend date of this dividend was Friday, April 4th. This is a boost from BRP's previous quarterly dividend of $0.15. This represents a $0.60 annualized dividend and a dividend yield of 1.75%. BRP's dividend payout ratio (DPR) is -29.21%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DOOO shares. Robert W. Baird reaffirmed a "neutral" rating and set a $43.00 target price (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. UBS Group reduced their target price on shares of BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Raymond James reaffirmed a "strong-buy" rating on shares of BRP in a research note on Thursday, March 27th. Citigroup raised shares of BRP from a "sell" rating to a "neutral" rating and upped their price objective for the company from $27.00 to $37.00 in a research note on Friday, April 4th. Finally, TD Securities reaffirmed a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Ten analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.75.

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.