Canada Pension Plan Investment Board Sells 39,874 Shares of BRP Inc. (NASDAQ:DOOO)

Canada Pension Plan Investment Board reduced its position in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 45.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,172 shares of the company's stock after selling 39,874 shares during the period. Canada Pension Plan Investment Board owned approximately 0.06% of BRP worth $3,086,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DOOO. UniSuper Management Pty Ltd lifted its holdings in BRP by 66.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 500 shares of the company's stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Trivant Custom Portfolio Group LLC bought a new position in BRP in the 1st quarter worth approximately $50,000. Dnca Finance bought a new stake in shares of BRP during the 2nd quarter worth $66,000. Lake Street Advisors Group LLC purchased a new stake in shares of BRP during the second quarter worth about $201,000. Finally, Intech Investment Management LLC purchased a new stake in shares of BRP in the 2nd quarter worth approximately $209,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DOOO shares. Scotiabank lowered shares of BRP from a "sector outperform" rating to a "sector perform" rating in a research report on Monday, September 9th. National Bank Financial cut BRP from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, August 21st. Desjardins lowered shares of BRP from a "moderate buy" rating to a "hold" rating in a research report on Sunday, September 8th. Stifel Nicolaus lowered shares of BRP from a "buy" rating to a "hold" rating in a research note on Wednesday, August 21st. Finally, Cibc World Mkts cut BRP from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 9th. Seven 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $97.00.

BRP Price Performance

Shares of BRP stock traded up $1.44 during mid-day trading on Thursday, reaching $60.48. 98,708 shares of the stock traded hands, compared to its average volume of 124,196. BRP Inc. has a fifty-two week low of $57.15 and a fifty-two week high of $79.40. The company has a quick ratio of 0.37, a current ratio of 1.32 and a debt-to-equity ratio of 4.99. The stock has a market capitalization of $4.48 billion, a PE ratio of 10.98 and a beta of 2.07. The business has a 50-day moving average of $66.89 and a 200 day moving average of $66.58.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.152 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, September 27th. BRP's dividend payout ratio is presently 11.21%.

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.