Swiss National Bank Acquires 80,900 Shares of BRP Inc. (NASDAQ:DOOO)

Swiss National Bank boosted its holdings in BRP Inc. (NASDAQ:DOOOGet Rating) by 90.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,644 shares of the company’s stock after buying an additional 80,900 shares during the period. Swiss National Bank’s holdings in BRP were worth $10,483,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Beutel Goodman & Co Ltd. increased its position in BRP by 205.9% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 3,113,867 shares of the company’s stock worth $255,069,000 after buying an additional 2,095,781 shares during the period. Vanguard Group Inc. grew its holdings in shares of BRP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 1,200,665 shares of the company’s stock worth $98,202,000 after purchasing an additional 30,978 shares in the last quarter. Invesco Ltd. grew its holdings in shares of BRP by 103.1% during the 1st quarter. Invesco Ltd. now owns 802,926 shares of the company’s stock worth $65,671,000 after purchasing an additional 407,545 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of BRP by 20.3% during the 1st quarter. Bank of Montreal Can now owns 708,831 shares of the company’s stock worth $58,775,000 after purchasing an additional 119,422 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of BRP during the 1st quarter worth approximately $39,790,000. 27.35% of the stock is owned by institutional investors.

BRP Price Performance

BRP stock 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 firm has a market cap of $5.47 billion, a P/E ratio of 10.48 and a beta of 2.39. The business’s fifty day moving average is $65.76 and its two-hundred day moving average is $69.11. BRP Inc. has a 52 week low of $57.38 and a 52 week high of $88.69.

BRP (NASDAQ:DOOOGet Rating) last posted its quarterly earnings data on Wednesday, September 14th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.26. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.30 billion. BRP had a negative return on equity of 526.63% and a net margin of 8.48%. The business’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.35 earnings per share. Equities research analysts forecast that BRP Inc. will post 8.78 earnings per share for the current fiscal year.

BRP Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in 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. Raymond James boosted their price target on BRP from C$135.00 to C$138.00 in a research note on Thursday, September 15th. Finally, Royal Bank of Canada boosted their price target on BRP from C$113.00 to C$114.00 in a research note on Thursday, September 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.92.

BRP Profile

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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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