Franklin Resources Inc. Sells 553,358 Shares of BRP Inc. (NASDAQ:DOOO)

Franklin Resources Inc. reduced its position in BRP Inc. (NASDAQ:DOOO - Free Report) by 75.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 177,910 shares of the company's stock after selling 553,358 shares during the period. Franklin Resources Inc. owned 0.24% of BRP worth $9,049,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Signaturefd LLC raised its position in shares of BRP by 296.1% during the fourth quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after purchasing an additional 903 shares during the period. C M Bidwell & Associates Ltd. bought a new position in BRP during the 4th quarter worth about $77,000. Intact Investment Management Inc. acquired a new stake in BRP in the 4th quarter valued at approximately $148,000. Public Employees Retirement System of Ohio bought a new position in shares of BRP during the 3rd quarter worth approximately $178,000. Finally, Quantbot Technologies LP lifted its position in BRP by 26.6% during the 4th quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock worth $246,000 after buying an additional 1,017 shares in the last quarter.

BRP Stock Performance

NASDAQ DOOO traded up $0.51 on Monday, hitting $37.16. 31,400 shares of the stock traded hands, compared to its average volume of 151,574. BRP Inc. has a 12 month low of $32.24 and a 12 month high of $74.00. The business's fifty day moving average is $38.97 and its two-hundred day moving average is $47.35. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 19.77 and a beta of 1.71. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.57 and a current ratio of 1.37.

BRP (NASDAQ:DOOO - Get Free Report) last issued its quarterly 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. BRP had a return on equity of 61.20% and a net margin of 2.29%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.97 billion. As a group, equities analysts anticipate that BRP Inc. will post 3.15 EPS for the current fiscal 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, April 4th. This is an increase from BRP's previous quarterly dividend of $0.15. BRP's dividend payout ratio is currently -29.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Securities reissued a "hold" rating on shares of BRP in a research note on Thursday, March 27th. Robert W. Baird reiterated a "neutral" rating and set a $43.00 price target (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. Baird R W downgraded BRP from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Citigroup upgraded shares of BRP from a "sell" rating to a "neutral" rating and upped their price objective for the company from $27.00 to $37.00 in a report on Friday, April 4th. Finally, Raymond James restated a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. Ten equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $61.25.

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.