O Shaughnessy Asset Management LLC Trims Stake in BRP Inc. (NASDAQ:DOOO)

O Shaughnessy Asset Management LLC lessened its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,682 shares of the company’s stock after selling 4,558 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in BRP were worth $798,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DOOO. CIBC Asset Management Inc lifted its position in BRP by 14.0% during the fourth quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock valued at $7,270,000 after purchasing an additional 16,379 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in shares of BRP by 44.2% during the 4th quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock worth $2,408,000 after acquiring an additional 14,500 shares during the last quarter. Van ECK Associates Corp grew its position in BRP by 699.9% in the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock worth $3,875,000 after acquiring an additional 66,627 shares in the last quarter. Geode Capital Management LLC increased its stake in BRP by 8.3% in the third quarter. Geode Capital Management LLC now owns 208,186 shares of the company’s stock valued at $12,978,000 after acquiring an additional 15,892 shares during the last quarter. Finally, Sei Investments Co. raised its position in BRP by 50.1% during the fourth quarter. Sei Investments Co. now owns 144,862 shares of the company’s stock valued at $7,369,000 after purchasing an additional 48,330 shares in the last quarter.

BRP Stock Performance

Shares of DOOO stock opened at $33.18 on Wednesday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 17.65 and a beta of 1.71. The stock has a fifty day moving average of $39.76 and a 200 day moving average of $48.01. BRP Inc. has a 52 week low of $32.24 and a 52 week high of $74.00. The company has a quick ratio of 0.57, a current ratio of 1.37 and a debt-to-equity ratio of 5.19.

BRP (NASDAQ:DOOO) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.07. BRP had a net margin of 2.29% and a return on equity of 61.20%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, research analysts expect that BRP Inc. will post 3.15 earnings per share for the current 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 given a dividend of $0.1508 per share. The ex-dividend date is Friday, April 4th. This represents a $0.60 annualized dividend and a yield of 1.82%. This is a positive change from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio (DPR) is currently -29.21%.

Analysts Set New Price Targets

Several brokerages have recently commented on DOOO. Raymond James reiterated a “strong-buy” rating on shares of BRP in a research report on Thursday, March 27th. TD Securities reissued a “hold” rating on shares of BRP in a research note on Thursday, March 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $43.00 target price (down previously from $48.00) on shares of BRP in a report on Friday, April 4th. Citigroup upgraded BRP from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $27.00 to $37.00 in a report on Friday, April 4th. Finally, Baird R W cut BRP from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, BRP has a consensus 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.