BRP Inc. (NASDAQ:DOOO) Shares Sold by Renaissance Group LLC

Renaissance Group LLC cut its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 0.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,085 shares of the company’s stock after selling 574 shares during the period. Renaissance Group LLC owned approximately 0.14% of BRP worth $8,765,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Waratah Capital Advisors Ltd. purchased a new position in BRP in the 1st quarter worth approximately $858,000. Clearstead Advisors LLC acquired a new position in shares of BRP during the first quarter worth $37,000. Credit Suisse AG grew its stake in shares of BRP by 1.1% during the fourth quarter. Credit Suisse AG now owns 237,918 shares of the company’s stock worth $18,165,000 after purchasing an additional 2,656 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of BRP by 26.7% during the first quarter. Toronto Dominion Bank now owns 29,068 shares of the company’s stock worth $2,271,000 after purchasing an additional 6,127 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of BRP by 201.3% during the first quarter. Acadian Asset Management LLC now owns 67,500 shares of the company’s stock worth $5,269,000 after purchasing an additional 45,100 shares in the last quarter. 26.68% of the stock is currently owned by institutional investors and hedge funds.

BRP Stock Performance

NASDAQ DOOO traded up $1.14 during trading hours on Friday, hitting $74.52. 46,154 shares of the stock were exchanged, compared to its average volume of 55,649. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 8.80 and a beta of 2.29. BRP Inc. has a 12-month low of $58.71 and a 12-month high of $92.74. The stock has a 50-day moving average of $82.79 and a 200 day moving average of $79.47. The company has a quick ratio of 0.39, a current ratio of 1.34 and a debt-to-equity ratio of 4.80.

BRP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.133 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.53 dividend on an annualized basis and a yield of 0.71%. BRP’s dividend payout ratio (DPR) is presently 6.31%.

Analyst Ratings Changes

A number of equities analysts recently commented on DOOO shares. Royal Bank of Canada boosted their target price on shares of BRP from C$138.00 to C$141.00 in a research note on Friday, June 2nd. DA Davidson upgraded shares of BRP from a “neutral” rating to a “buy” rating and upped their price objective for the company from $111.00 to $126.00 in a research note on Tuesday, June 13th. Scotiabank reduced their target price on shares of BRP from C$145.00 to C$142.00 in a report on Wednesday, July 5th. TD Securities cut shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Raymond James reduced their target price on shares of BRP from C$139.00 to C$124.00 in a report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, BRP presently has an average rating of “Moderate Buy” and a consensus price target of $133.56.

BRP Company Profile

BRP Inc, together with its subsidiaries, designs, develops, manufactures, distributes, and markets powersports vehicles and marine products in North America, Europe, Australia, New Zealand, and Latin America. The company operates through two segments, Powersports and Marine. The Powersports segment offers year-round products, such as Can-Am ATVs, SSVs, and 3WVs; seasonal products, including Ski-Doo and Lynx snowmobiles, Sea-Doo PWCs and pontoons, and Rotax engines for karts and recreational aircraft.