Systematic Financial Management LP Reduces Holdings in BRP Inc. $DOO

Systematic Financial Management LP decreased its stake in shares of BRP Inc. (NASDAQ:DOO) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,855 shares of the company’s stock after selling 8,886 shares during the period. Systematic Financial Management LP owned approximately 0.33% of BRP worth $17,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mackenzie Financial Corp purchased a new stake in BRP in the fourth quarter worth about $207,651,000. Price T Rowe Associates Inc. MD bought a new stake in BRP during the 4th quarter valued at approximately $169,341,000. Capital World Investors purchased a new position in shares of BRP during the 4th quarter worth approximately $158,763,000. FIL Ltd purchased a new position in shares of BRP during the 4th quarter worth approximately $123,110,000. Finally, Vanguard Group Inc. purchased a new position in shares of BRP during the 4th quarter worth approximately $98,153,000.

BRP Price Performance

DOO stock opened at $60.34 on Friday. The firm has a 50 day moving average price of $59.26 and a 200-day moving average price of $65.99. BRP Inc. has a 52-week low of $48.67 and a 52-week high of $81.89. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 22.77 and a beta of 0.89. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.61 and a current ratio of 1.30.

BRP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given 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 was Tuesday, June 30th. BRP’s dividend payout ratio (DPR) is 26.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BRP in a research note on Friday, May 29th. National Bank Financial cut BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 15th. Scotiabank reiterated a “sector perform” rating on shares of BRP in a report on Friday. TD Securities reissued a “hold” rating on shares of BRP in a research report on Friday, May 29th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of BRP in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.