Bank of New York Mellon Corp Has $327,000 Stock Position in BRP Inc. (NASDAQ:DOOO)

Bank of New York Mellon Corp cut its stake in shares of BRP Inc. (NASDAQ:DOOO) by 76.0% in the fourth quarter, Holdings Channel reports. The firm owned 6,434 shares of the company’s stock after selling 20,427 shares during the quarter. Bank of New York Mellon Corp’s holdings in BRP were worth $327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in shares of BRP by 14.0% during the 4th quarter. CIBC Asset Management Inc now owns 133,038 shares of the company’s stock worth $7,270,000 after buying an additional 16,379 shares during the period. Alberta Investment Management Corp grew its holdings in BRP by 44.2% during the fourth quarter. Alberta Investment Management Corp now owns 47,300 shares of the company’s stock valued at $2,408,000 after purchasing an additional 14,500 shares during the period. Van ECK Associates Corp grew its holdings in BRP by 699.9% during the fourth quarter. Van ECK Associates Corp now owns 76,147 shares of the company’s stock valued at $3,875,000 after purchasing an additional 66,627 shares during the period. 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 purchasing an additional 15,892 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in BRP by 41.5% in the third quarter. Franklin Resources Inc. now owns 731,268 shares of the company’s stock worth $43,461,000 after purchasing an additional 214,626 shares during the period.

BRP Stock Down 4.1 %

BRP stock opened at $34.00 on Friday. The company has a 50 day moving average of $42.54 and a 200-day moving average of $49.56. 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 Inc. has a twelve month low of $33.05 and a twelve month high of $75.59. The stock has a market capitalization of $2.48 billion, a PE ratio of 18.09 and a beta of 2.03.

BRP (NASDAQ:DOOO) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.62 by $0.07. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.97 billion. BRP had a net margin of 2.29% and a return on equity of 61.20%. On average, equities research analysts anticipate that BRP Inc. will post 3.15 EPS for the current fiscal year.

BRP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, April 4th will be given a $0.1508 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, April 4th. This is a positive change from BRP’s previous quarterly dividend of $0.15. BRP’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analyst Weigh In

Separately, Citigroup restated a “sell” rating and issued a $27.00 price objective (down previously from $29.00) on shares of BRP in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $87.40.

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.