BRP Inc. (NASDAQ:DOOO) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of BRP Inc. (NASDAQ:DOOO) by 61.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,076,187 shares of the company’s stock after purchasing an additional 408,692 shares during the period. The Manufacturers Life Insurance Company’s holdings in BRP were worth $68,850,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DOOO. UniSuper Management Pty Ltd lifted its holdings in BRP by 66.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Scotia Capital Inc. boosted its holdings in BRP by 1.5% in the fourth quarter. Scotia Capital Inc. now owns 22,246 shares of the company’s stock valued at $1,588,000 after purchasing an additional 318 shares during the last quarter. Bank of New York Mellon Corp grew its stake in BRP by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after purchasing an additional 520 shares in the last quarter. Addenda Capital Inc. increased its holdings in BRP by 5.3% during the 1st quarter. Addenda Capital Inc. now owns 10,583 shares of the company’s stock worth $710,000 after purchasing an additional 528 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC acquired a new position in shares of BRP in the 1st quarter valued at approximately $50,000.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $60.86 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The firm’s 50-day moving average price is $66.51 and its two-hundred day moving average price is $66.56. BRP Inc. has a 52-week low of $57.15 and a 52-week high of $79.40. The stock has a market capitalization of $4.51 billion, a P/E ratio of 11.01 and a beta of 2.07.

BRP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.152 per share. The ex-dividend date is Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 1.00%. BRP’s dividend payout ratio is currently 11.21%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. UBS Group dropped their target price on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. CIBC reduced their price target on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a research report on Monday, June 3rd. National Bank Financial downgraded BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Finally, Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.00.

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.