Capital World Investors Acquires Shares of 2,245,332 BRP Inc. $DOO

Capital World Investors acquired a new stake in BRP Inc. (NASDAQ:DOO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,245,332 shares of the company’s stock, valued at approximately $158,763,000. Capital World Investors owned about 3.06% of BRP at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOO. QV Investors Inc. purchased a new stake in BRP in the fourth quarter valued at approximately $31,701,000. Signaturefd LLC purchased a new stake in BRP in the fourth quarter valued at approximately $43,000. Addenda Capital Inc. purchased a new stake in BRP in the fourth quarter valued at approximately $1,170,000. Annex Advisory Services LLC purchased a new stake in BRP in the fourth quarter valued at approximately $279,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in BRP in the fourth quarter valued at approximately $751,000.

BRP Price Performance

Shares of DOO stock opened at $60.56 on Tuesday. The business’s fifty day simple moving average is $61.05. BRP Inc. has a 1-year low of $46.23 and a 1-year high of $81.89. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.85 and a beta of 0.89. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.30 and a quick ratio of 0.61.

BRP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 30th. BRP’s dividend payout ratio is currently 27.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus cut BRP from a “buy” rating to a “hold” rating in a research note on Friday, May 29th. Scotiabank reiterated a “sector perform” rating on shares of BRP in a research note on Friday, May 29th. Wall Street Zen cut BRP from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada reiterated an “outperform” rating on shares of BRP in a research note on Friday, May 29th. Finally, UBS Group reduced their price objective on BRP from $78.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.00.

About BRP

BRP Inc, headquartered in Valcourt, Quebec, designs, manufactures and distributes powersports vehicles and propulsion systems for recreational and utility use. The company traces its roots to the Bombardier family and the early development of the snowmobile, and it operates as a global manufacturer of recreational vehicles and related technologies.

BRP’s product portfolio includes snowmobiles, personal watercraft and sport boats, off-road vehicles (including all-terrain and side-by-side models) and three‑wheel on‑road vehicles.