Mackenzie Financial Corp Has $25.53 Million Position in BRP Inc. (NASDAQ:DOOO)

Mackenzie Financial Corp lessened its stake in BRP Inc. (NASDAQ:DOOO) by 13.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 398,458 shares of the company’s stock after selling 59,578 shares during the period. Mackenzie Financial Corp’s holdings in BRP were worth $25,532,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in DOOO. The Manufacturers Life Insurance Company increased its position in shares of BRP by 61.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,076,187 shares of the company’s stock valued at $68,850,000 after purchasing an additional 408,692 shares during the period. American Century Companies Inc. raised its stake in shares of BRP by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,168 shares of the company’s stock valued at $68,656,000 after buying an additional 335,715 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of BRP by 35.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 711,049 shares of the company’s stock worth $50,975,000 after acquiring an additional 184,313 shares during the period. National Bank of Canada FI boosted its position in shares of BRP by 13.5% during the 2nd quarter. National Bank of Canada FI now owns 479,312 shares of the company’s stock valued at $30,455,000 after acquiring an additional 56,954 shares in the last quarter. Finally, QV Investors Inc. bought a new stake in BRP in the second quarter valued at about $28,142,000.

Analyst Ratings Changes

A number of research analysts have commented on DOOO shares. UBS Group cut their price target on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. CIBC reduced their target price on shares of BRP from $110.00 to $100.00 and set an “outperformer” rating on the stock in a research note on Monday, June 3rd. Finally, Desjardins cut shares of BRP from a “moderate buy” rating to a “hold” rating in a research report on Sunday, September 8th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

BRP Price Performance

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

BRP Announces Dividend

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

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.