Swiss National Bank Has $6.42 Million Holdings in BRP Inc. (NASDAQ:DOOO)

Swiss National Bank decreased its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,644 shares of the company’s stock after selling 1,300 shares during the quarter. Swiss National Bank’s holdings in BRP were worth $6,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. US Bancorp DE increased its position in BRP by 350.0% during the 3rd quarter. US Bancorp DE now owns 414 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of BRP by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after acquiring an additional 520 shares during the last quarter. Dnca Finance acquired a new position in shares of BRP during the second quarter worth $66,000. Addenda Capital Inc. grew its stake in shares of BRP by 9.9% in the second quarter. Addenda Capital Inc. now owns 11,636 shares of the company’s stock worth $745,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Spartan Fund Management Inc. acquired a new stake in BRP in the third quarter valued at $72,000.

BRP Price Performance

BRP stock opened at $47.56 on Wednesday. The stock’s 50 day moving average price is $54.35 and its two-hundred day moving average price is $62.17. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 19.61 and a beta of 2.07. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.37 and a current ratio of 1.32. BRP Inc. has a 52-week low of $46.85 and a 52-week high of $75.59.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Friday, September 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. BRP had a net margin of 2.78% and a return on equity of 79.58%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.35 billion. On average, equities analysts predict that BRP Inc. will post 2.27 earnings per share for the current year.

BRP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.152 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.61 dividend on an annualized basis and a yield of 1.28%. BRP’s dividend payout ratio (DPR) is presently 25.73%.

Analysts Set New Price Targets

A number of research firms have commented on DOOO. UBS Group reduced their price target on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Citigroup dropped their price target on shares of BRP from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Finally, Cibc World Mkts cut shares of BRP from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $97.00.

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.