BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Position in BRP Inc. (NASDAQ:DOOO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,766 shares of the company’s stock after selling 773 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in BRP were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. UniSuper Management Pty Ltd boosted its holdings in BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company’s stock valued at $34,000 after acquiring an additional 200 shares during the period. Scotia Capital Inc. lifted its position in shares of BRP by 1.5% during the fourth quarter. Scotia Capital Inc. now owns 22,246 shares of the company’s stock worth $1,588,000 after purchasing an additional 318 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BRP by 1.7% during the second 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 during the period. Addenda Capital Inc. grew its holdings in shares of BRP by 5.3% in the first 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 bought a new position in shares of BRP in the first quarter worth about $50,000.

BRP Stock Performance

Shares of DOOO stock opened at $60.86 on Monday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 11.01 and a beta of 2.07. BRP Inc. has a 52-week low of $57.15 and a 52-week high of $79.40. 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 company’s 50 day moving average is $66.51 and its 200 day moving average is $66.58.

BRP Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DOOO shares. UBS Group decreased their price objective on shares of BRP from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, September 13th. National Bank Financial downgraded shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Desjardins lowered BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Cibc World Mkts downgraded BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Citigroup decreased their target price on BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.00.

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.