Beutel Goodman & Co Ltd. Sells 365,954 Shares of BRP Inc. (NASDAQ:DOOO)

Beutel Goodman & Co Ltd. trimmed its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,253,642 shares of the company's stock after selling 365,954 shares during the quarter. Beutel Goodman & Co Ltd. owned approximately 4.46% of BRP worth $165,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in BRP in the 4th quarter worth about $15,259,000. Vanguard Group Inc. increased its stake in shares of BRP by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company's stock worth $62,355,000 after purchasing an additional 19,874 shares in the last quarter. Sei Investments Co. raised its position in shares of BRP by 50.1% in the fourth quarter. Sei Investments Co. now owns 144,862 shares of the company's stock valued at $7,369,000 after purchasing an additional 48,330 shares during the period. Quantbot Technologies LP lifted its stake in shares of BRP by 26.6% during the 4th quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock valued at $246,000 after buying an additional 1,017 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in BRP by 296.1% in the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after buying an additional 903 shares during the period.

BRP Price Performance

DOOO stock traded up $0.82 during mid-day trading on Wednesday, hitting $36.57. 81,528 shares of the stock were exchanged, compared to its average volume of 144,458. The business has a fifty day moving average price of $41.81 and a 200 day moving average price of $49.02. BRP Inc. has a 12 month low of $33.05 and a 12 month high of $75.59. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.37 and a quick ratio of 0.57. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 19.45 and a beta of 2.03.

BRP (NASDAQ:DOOO - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. BRP had a return on equity of 61.20% and a net margin of 2.29%. On average, sell-side analysts anticipate that BRP Inc. will post 3.15 EPS for the current year.

BRP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be issued a dividend of $0.1508 per share. The ex-dividend date is Friday, April 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.65%. This is a positive change from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio (DPR) is currently -29.21%.

Wall Street Analysts Forecast Growth

Separately, Citigroup restated a "sell" rating and set a $27.00 target price (down previously from $29.00) on shares of BRP in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, BRP currently has a consensus rating of "Hold" and a consensus target price of $82.25.

BRP 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.