BRP Inc. (NASDAQ:DOOO) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,038 shares of the company's stock after buying an additional 16,379 shares during the quarter. CIBC Asset Management Inc owned about 0.18% of BRP worth $7,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of BRP by 13.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,226,226 shares of the company's stock worth $73,027,000 after buying an additional 150,039 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of BRP by 41.5% during the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company's stock worth $43,461,000 after buying an additional 214,626 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of BRP by 17.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 405,978 shares of the company's stock worth $24,159,000 after buying an additional 61,502 shares during the last quarter. Ceredex Value Advisors LLC grew its holdings in shares of BRP by 27.5% during the third quarter. Ceredex Value Advisors LLC now owns 221,684 shares of the company's stock worth $13,233,000 after buying an additional 47,800 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of BRP by 8.3% during the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company's stock worth $12,978,000 after buying an additional 15,892 shares during the last quarter.

BRP Stock Performance

NASDAQ:DOOO traded down $1.24 during mid-day trading on Friday, reaching $40.75. The stock had a trading volume of 100,443 shares, compared to its average volume of 197,608. The business has a 50 day simple moving average of $49.13 and a 200 day simple moving average of $54.88. BRP Inc. has a twelve month low of $40.68 and a twelve month high of $75.59. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 21.67 and a beta of 2.02.

BRP (NASDAQ:DOOO - Get Free Report) last posted its quarterly earnings results on Friday, December 6th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.35. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, analysts expect that BRP Inc. will post 3.15 earnings per share for the current fiscal year.

BRP Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.1485 per share. This represents a $0.59 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 31st. BRP's dividend payout ratio (DPR) is presently 30.85%.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of BRP from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, BRP presently has a consensus rating of "Hold" and a consensus price target of $97.00.

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.