Wells Fargo & Company MN Sells 10,449 Shares of BRP Inc. (NASDAQ:DOOO)

Wells Fargo & Company MN trimmed its holdings in BRP Inc. (NASDAQ:DOOO - Free Report) by 25.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,048 shares of the company's stock after selling 10,449 shares during the quarter. Wells Fargo & Company MN's holdings in BRP were worth $1,579,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after acquiring an additional 903 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of BRP in the fourth quarter worth $77,000. Intact Investment Management Inc. purchased a new position in BRP during the 4th quarter valued at about $148,000. Quantbot Technologies LP increased its stake in BRP by 26.6% in the 4th quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock valued at $246,000 after buying an additional 1,017 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of BRP during the fourth quarter worth $636,000.

BRP Price Performance

Shares of BRP stock traded up $0.58 during midday trading on Friday, hitting $34.34. 25,734 shares of the company were exchanged, compared to its average volume of 155,763. The firm has a 50 day simple moving average of $36.48 and a 200-day simple moving average of $45.09. BRP Inc. has a 52 week low of $31.78 and a 52 week high of $74.00. The firm has a market cap of $2.51 billion, a P/E ratio of 18.27 and a beta of 1.71. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. Research analysts forecast that BRP Inc. will post 3.15 earnings per share for the current year.

BRP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, April 4th were issued a dividend of $0.1508 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.76%. This is a boost from BRP's previous quarterly dividend of $0.15. The ex-dividend date was Friday, April 4th. BRP's dividend payout ratio (DPR) is currently -29.21%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Robert W. Baird reissued a "neutral" rating and issued a $43.00 target price (down from $48.00) on shares of BRP in a research report on Friday, April 4th. Citigroup upgraded shares of BRP from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $27.00 to $37.00 in a research note on Friday, April 4th. Baird R W lowered shares of BRP from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group lowered their price target on BRP from $45.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, Raymond James reissued a "strong-buy" rating on shares of BRP in a report 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $53.75.

BRP Company 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.