Dimension Capital Management LLC Increases Position in BRP Inc. (NASDAQ:DOOO)

Dimension Capital Management LLC increased its stake in shares of BRP Inc. (NASDAQ:DOOO) by 73.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,098 shares of the company’s stock after purchasing an additional 4,706 shares during the period. Dimension Capital Management LLC’s holdings in BRP were worth $711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in DOOO. Sei Investments Co. acquired a new position in shares of BRP during the 1st quarter worth $5,376,000. Shell Asset Management Co. boosted its holdings in BRP by 160.2% in the first quarter. Shell Asset Management Co. now owns 17,795 shares of the company’s stock valued at $1,196,000 after acquiring an additional 10,957 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of BRP by 23.9% during the 1st quarter. 1832 Asset Management L.P. now owns 122,549 shares of the company’s stock worth $8,223,000 after purchasing an additional 23,678 shares during the period. National Bank of Canada FI grew its stake in BRP by 17.6% during the first quarter. National Bank of Canada FI now owns 422,358 shares of the company’s stock worth $29,664,000 after buying an additional 63,060 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in BRP by 35.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock valued at $50,975,000 after purchasing an additional 184,313 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup lowered their price objective on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. CIBC reduced their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a report on Monday, June 3rd. Cibc World Mkts downgraded shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Scotiabank lowered BRP from a “sector outperform” rating to a “sector perform” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.00.

BRP Stock Performance

Shares of DOOO opened at $59.04 on Thursday. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. The firm’s 50 day moving average is $66.89 and its 200-day moving average is $66.58. BRP Inc. has a 12-month low of $57.15 and a 12-month high of $79.40. The stock has a market capitalization of $4.38 billion, a P/E ratio of 10.68 and a beta of 2.07.

BRP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.152 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.61 annualized dividend and a yield of 1.03%. BRP’s dividend payout ratio (DPR) is 11.21%.

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.