The Manufacturers Life Insurance Company Grows Stock Position in BRP Inc. (NASDAQ:DOOO)

The Manufacturers Life Insurance Company grew its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,514,230 shares of the company's stock after acquiring an additional 288,004 shares during the period. The Manufacturers Life Insurance Company owned about 2.07% of BRP worth $77,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in BRP by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock worth $12,978,000 after purchasing an additional 15,892 shares in the last quarter. Franklin Resources Inc. grew its position in shares of BRP by 41.5% during the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock worth $43,461,000 after buying an additional 214,626 shares in the last quarter. Addenda Capital Inc. increased its stake in shares of BRP by 10.5% during the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company's stock worth $678,000 after buying an additional 1,265 shares during the period. Van ECK Associates Corp raised its holdings in BRP by 699.9% in the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company's stock valued at $3,875,000 after acquiring an additional 66,627 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in BRP by 14.0% in the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company's stock worth $7,270,000 after acquiring an additional 16,379 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group reduced their price objective 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. Baird R W cut BRP from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. TD Securities reaffirmed a "hold" rating on shares of BRP in a research report on Thursday, March 27th. Robert W. Baird reissued a "neutral" rating and set a $43.00 target price (down previously from $48.00) on shares of BRP in a research report on Friday, April 4th. Finally, Citigroup raised BRP from a "sell" rating to a "neutral" rating and upped their price target for the company from $27.00 to $37.00 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $53.75.

BRP Stock Performance

Shares of NASDAQ DOOO traded down $0.02 during trading hours on Monday, reaching $34.52. The stock had a trading volume of 24,534 shares, compared to its average volume of 156,501. The firm has a 50-day moving average of $36.35 and a 200-day moving average of $44.76. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 18.40 and a beta of 1.17. The company has a current ratio of 1.37, a quick ratio of 0.57 and a debt-to-equity ratio of 5.19. BRP Inc. has a fifty-two week low of $31.78 and a fifty-two week high of $74.00.

BRP (NASDAQ:DOOO - Get Free Report) last announced its 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.97 billion. Equities research analysts predict that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, April 4th were paid a dividend of $0.1508 per share. This is an increase from BRP's previous quarterly dividend of $0.15. The ex-dividend date was Friday, April 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.75%. BRP's dividend payout ratio is -29.21%.

BRP Profile

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.