Principal Financial Group Inc. Has $22.32 Million Stock Holdings in BRP Inc. (NASDAQ:DOOO)

Principal Financial Group Inc. decreased its stake in BRP Inc. (NASDAQ:DOOOGet Rating) by 25.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 363,485 shares of the company’s stock after selling 122,050 shares during the period. Principal Financial Group Inc.’s holdings in BRP were worth $22,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cerity Partners LLC grew its stake in shares of BRP by 45.7% in the second quarter. Cerity Partners LLC now owns 4,373 shares of the company’s stock worth $269,000 after acquiring an additional 1,372 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of BRP by 496.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,200 shares of the company’s stock worth $3,290,000 after acquiring an additional 26,800 shares during the last quarter. Swiss National Bank lifted its position in BRP by 90.1% in the second quarter. Swiss National Bank now owns 170,644 shares of the company’s stock worth $10,483,000 after purchasing an additional 80,900 shares during the period. Pictet Asset Management SA bought a new position in BRP in the second quarter worth $759,000. Finally, Bank of Nova Scotia bought a new position in BRP in the second quarter worth $4,987,000. Institutional investors and hedge funds own 27.35% of the company’s stock.

BRP Price Performance

Shares of DOOO opened at $69.46 on Monday. The company has a debt-to-equity ratio of 233.30, a quick ratio of 0.26 and a current ratio of 1.08. The stock has a 50 day simple moving average of $65.76 and a 200 day simple moving average of $69.11. BRP Inc. has a 52-week low of $57.38 and a 52-week high of $88.69. The firm has a market capitalization of $5.47 billion, a PE ratio of 10.48 and a beta of 2.39.

BRP (NASDAQ:DOOOGet Rating) last released its earnings results on Wednesday, September 14th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.03 by $0.26. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.30 billion. BRP had a negative return on equity of 526.63% and a net margin of 8.48%. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.35 EPS. Sell-side analysts predict that BRP Inc. will post 8.78 EPS for the current fiscal year.

BRP Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a dividend of $0.122 per share. This represents a $0.49 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, September 29th. BRP’s dividend payout ratio is 7.39%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DOOO shares. Scotiabank lifted their price objective on BRP from C$126.00 to C$127.00 in a report on Thursday, September 15th. Royal Bank of Canada lifted their price objective on BRP from C$113.00 to C$114.00 in a research report on Thursday, September 15th. Finally, Raymond James boosted their target price on BRP from C$135.00 to C$138.00 in a research report on Thursday, September 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $130.92.

BRP Profile

(Get Rating)

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, Latin America, and internationally. The company operates through two segments, Powersports and Marine. It offers all-terrain, side-by-side, and three-wheeled vehicles; seasonal products, which consists of snowmobiles, personal watercraft, and pontoons; and parts, accessories and apparel, and engines for karts and recreational aircraft and other services.

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Institutional Ownership by Quarter for BRP (NASDAQ:DOOO)

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