The Manufacturers Life Insurance Company Acquires 471,986 Shares of BRP Inc. (NASDAQ:DOOO)

The Manufacturers Life Insurance Company lifted its holdings in BRP Inc. (NASDAQ:DOOOFree Report) by 539.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 559,543 shares of the company’s stock after acquiring an additional 471,986 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.74% of BRP worth $40,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DOOO. Norges Bank bought a new position in shares of BRP in the 4th quarter worth about $30,666,000. Royal Bank of Canada raised its position in shares of BRP by 34.0% in the 3rd quarter. Royal Bank of Canada now owns 589,213 shares of the company’s stock worth $44,697,000 after acquiring an additional 149,529 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of BRP by 10.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,094,083 shares of the company’s stock worth $82,997,000 after acquiring an additional 107,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in BRP by 27.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 468,000 shares of the company’s stock valued at $35,588,000 after buying an additional 100,000 shares in the last quarter. Finally, Intact Investment Management Inc. increased its position in BRP by 323.1% in the 4th quarter. Intact Investment Management Inc. now owns 125,100 shares of the company’s stock valued at $8,954,000 after buying an additional 95,530 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the company. TheStreet lowered BRP from a “b-” rating to a “c+” rating in a research report on Monday, February 26th. CIBC decreased their target price on BRP from $110.00 to $100.00 and set an “outperformer” rating for the company in a research report on Monday. Desjardins boosted their target price on BRP from $112.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Finally, Raymond James decreased their target price on BRP from $114.00 to $108.00 and set a “strong-buy” rating for the company in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Check Out Our Latest Stock Analysis on BRP

BRP Price Performance

DOOO stock opened at $63.13 on Thursday. The company has a market capitalization of $4.74 billion, a P/E ratio of 11.25 and a beta of 2.09. The company has a debt-to-equity ratio of 4.23, a quick ratio of 0.55 and a current ratio of 1.35. BRP Inc. has a 52-week low of $57.15 and a 52-week high of $92.74. The business has a 50-day simple moving average of $68.89 and a two-hundred day simple moving average of $67.27.

BRP (NASDAQ:DOOOGet Free Report) last announced its earnings results 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 101.72% and a net margin of 5.87%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Research analysts expect that BRP Inc. will post 4.79 EPS for the current fiscal year.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.152 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.96%. BRP’s payout ratio is presently 11.21%.

BRP Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for BRP (NASDAQ:DOOO)

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