BRP Inc. (NASDAQ:DOOO) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of BRP Inc. (NASDAQ:DOOO) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,740 shares of the company’s stock after selling 4,714 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in BRP were worth $5,294,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DOOO. Barclays PLC boosted its holdings in shares of BRP by 232.5% during the 3rd quarter. Barclays PLC now owns 971 shares of the company’s stock worth $73,000 after purchasing an additional 679 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of BRP by 31.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,717 shares of the company’s stock worth $130,000 after purchasing an additional 410 shares during the last quarter. NewEdge Wealth LLC acquired a new position in shares of BRP during the 4th quarter worth approximately $215,000. Summit Global Investments acquired a new position in shares of BRP during the 3rd quarter worth approximately $297,000. Finally, Aviva PLC acquired a new position in shares of BRP during the 3rd quarter worth approximately $348,000.

BRP Stock Up 2.0 %

Shares of NASDAQ DOOO opened at $70.05 on Wednesday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 9.98 and a beta of 2.12. The company has a quick ratio of 0.55, a current ratio of 1.41 and a debt-to-equity ratio of 3.32. BRP Inc. has a 52-week low of $57.15 and a 52-week high of $92.74. The business’s 50 day moving average is $66.79 and its two-hundred day moving average is $68.24.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Thursday, March 28th. The company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.12). BRP had a return on equity of 120.39% and a net margin of 7.20%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Research analysts predict that BRP Inc. will post 5.7 EPS for the current year.

BRP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a dividend of $0.1545 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.88%. BRP’s payout ratio is currently 8.83%.

Analyst Ratings Changes

DOOO has been the topic of several analyst reports. Raymond James reduced their price target on shares of BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 1st. Desjardins lifted their price target on shares of BRP from $112.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. TheStreet lowered shares of BRP from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. Finally, CIBC lifted their price target on shares of BRP from $106.00 to $110.00 and gave the company an “outperformer” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BRP presently has an average rating of “Moderate Buy” and an average target price of $125.78.

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.