Geode Capital Management LLC Has $12.98 Million Holdings in BRP Inc. (NASDAQ:DOOO)

Geode Capital Management LLC raised its stake in BRP Inc. (NASDAQ:DOOO - Free Report) by 8.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 208,186 shares of the company's stock after buying an additional 15,892 shares during the quarter. Geode Capital Management LLC owned about 0.29% of BRP worth $12,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. US Bancorp DE lifted its position in BRP by 350.0% in the 3rd quarter. US Bancorp DE now owns 414 shares of the company's stock valued at $25,000 after acquiring an additional 322 shares in the last quarter. Spartan Fund Management Inc. bought a new stake in shares of BRP in the third quarter valued at about $72,000. DRW Securities LLC acquired a new position in shares of BRP during the third quarter worth about $161,000. Public Employees Retirement System of Ohio bought a new position in shares of BRP during the third quarter worth about $178,000. Finally, Lake Street Advisors Group LLC bought a new position in shares of BRP during the second quarter worth about $201,000.

BRP Stock Performance

NASDAQ:DOOO traded up $0.52 during mid-day trading on Tuesday, hitting $50.87. The stock had a trading volume of 71,946 shares, compared to its average volume of 129,673. The company's 50 day simple moving average is $50.06 and its 200 day simple moving average is $59.49. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 27.06 and a beta of 2.03. The company has a debt-to-equity ratio of 5.19, a quick ratio of 0.37 and a current ratio of 1.37. BRP Inc. has a twelve month low of $46.85 and a twelve month high of $75.59.

BRP Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.1485 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.59 annualized dividend and a dividend yield of 1.17%. BRP's dividend payout ratio is currently 32.98%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DOOO. Desjardins downgraded BRP from a "moderate buy" rating to a "hold" rating in a research report on Sunday, September 8th. Citigroup decreased their target price on shares of BRP from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Scotiabank cut shares of BRP from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, September 9th. UBS Group reduced their price objective on shares of BRP from $66.00 to $65.00 and set a "neutral" rating for the company in a research note on Friday, September 13th. Finally, Cibc World Mkts downgraded BRP from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.