Sumitomo Mitsui Trust Holdings Inc. Sells 4,714 Shares of BRP Inc. (NASDAQ:DOOO)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in BRP Inc. (NASDAQ:DOOO) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,740 shares of the company’s stock after selling 4,714 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.10% of BRP worth $5,294,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DOOO. TheStreet downgraded BRP from a “b-” rating to a “c+” rating in a research note on Monday, February 26th. Raymond James lowered their target price on BRP from $114.00 to $108.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 1st. CIBC lifted their target price on BRP from $106.00 to $110.00 and gave the company an “outperformer” rating in a research report on Monday, April 1st. Finally, Desjardins lifted 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. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.78.

BRP Price Performance

Shares of BRP stock opened at $70.05 on Wednesday. The stock’s 50-day simple moving average is $66.79 and its 200-day simple moving average is $68.24. BRP Inc. has a 52 week low of $57.15 and a 52 week high of $92.74. The company has a market capitalization 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 (NASDAQ:DOOO) last announced its quarterly earnings data on Thursday, March 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.12). BRP had a net margin of 7.20% and a return on equity of 120.39%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. As a group, analysts expect that BRP Inc. will post 5.7 earnings per share for the current fiscal year.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a $0.1545 dividend. The ex-dividend date was Friday, April 5th. This represents a $0.62 annualized dividend and a dividend yield of 0.88%. BRP’s payout ratio is 8.83%.

About BRP

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.