Pictet Asset Management Holding SA Decreases Position in BRP Inc. (NASDAQ:DOOO)

Pictet Asset Management Holding SA decreased its position in shares of BRP Inc. (NASDAQ:DOOO - Free Report) by 65.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,755 shares of the company's stock after selling 10,903 shares during the quarter. Pictet Asset Management Holding SA's holdings in BRP were worth $293,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in BRP in the 4th quarter valued at approximately $15,259,000. Vanguard Group Inc. raised its holdings in BRP by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 1,224,330 shares of the company's stock valued at $62,355,000 after acquiring an additional 19,874 shares during the period. Sei Investments Co. lifted its holdings in BRP by 50.1% during the 4th quarter. Sei Investments Co. now owns 144,862 shares of the company's stock worth $7,369,000 after purchasing an additional 48,330 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of BRP by 26.6% in the fourth quarter. Quantbot Technologies LP now owns 4,844 shares of the company's stock valued at $246,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of BRP by 296.1% during the 4th quarter. Signaturefd LLC now owns 1,208 shares of the company's stock worth $61,000 after purchasing an additional 903 shares in the last quarter.

BRP Stock Down 1.1 %

BRP stock traded down $0.37 during mid-day trading on Wednesday, reaching $33.79. The stock had a trading volume of 21,879 shares, compared to its average volume of 151,991. The stock's 50-day simple moving average is $38.61 and its 200-day simple moving average is $47.09. BRP Inc. has a fifty-two week low of $32.24 and a fifty-two week high of $74.00. 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 $2.47 billion, a PE ratio of 17.97 and a beta of 1.71.

BRP (NASDAQ:DOOO - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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 forecast that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, April 4th will be paid a $0.1508 dividend. This is a positive change from BRP's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.79%. BRP's dividend payout ratio (DPR) is -29.21%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DOOO shares. Raymond James reissued a "strong-buy" rating on shares of BRP in a report on Thursday, March 27th. TD Securities reiterated a "hold" rating on shares of BRP in a report on Thursday, March 27th. Robert W. Baird reiterated a "neutral" rating and issued a $43.00 price objective (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 report on Friday, April 4th. Finally, Citigroup upgraded shares of BRP from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $27.00 to $37.00 in a research report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.