Bank of New York Mellon Corp Trims Stock Holdings in BRP Inc. (NASDAQ:DOOO)

Bank of New York Mellon Corp trimmed its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 76.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,434 shares of the company's stock after selling 20,427 shares during the period. Bank of New York Mellon Corp's holdings in BRP were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in BRP by 9.7% during the 3rd quarter. Quantbot Technologies LP now owns 3,827 shares of the company's stock valued at $228,000 after acquiring an additional 337 shares during the period. Addenda Capital Inc. raised its holdings in BRP by 10.5% during the fourth quarter. Addenda Capital Inc. now owns 13,331 shares of the company's stock valued at $678,000 after acquiring an additional 1,265 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of BRP in the third quarter valued at about $178,000. Systematic Financial Management LP boosted its stake in shares of BRP by 3.0% in the third quarter. Systematic Financial Management LP now owns 192,084 shares of the company's stock worth $11,437,000 after acquiring an additional 5,562 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of BRP by 115.1% during the third quarter. Hantz Financial Services Inc. now owns 18,885 shares of the company's stock worth $1,124,000 after purchasing an additional 10,106 shares in the last quarter.

BRP Price Performance

NASDAQ DOOO traded up $0.82 during trading on Wednesday, hitting $36.57. 239,114 shares of the stock traded hands, compared to its average volume of 144,369. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. BRP Inc. has a 12-month low of $33.05 and a 12-month high of $75.59. The firm has a 50-day simple moving average of $41.48 and a 200-day simple moving average of $48.94. The company has a market capitalization of $2.67 billion, a P/E ratio of 19.45 and a beta of 2.03.

BRP (NASDAQ:DOOO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.97 billion. As a group, analysts predict that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, April 4th will be given a dividend of $0.1508 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.65%. This is an increase from BRP's previous quarterly dividend of $0.15. BRP's payout ratio is currently -29.21%.

Analyst Upgrades and Downgrades

Separately, Citigroup reissued a "sell" rating and issued a $27.00 price target (down from $29.00) on shares of BRP in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, BRP presently has an average rating of "Hold" and a consensus target price of $82.25.

BRP Company Profile

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.