The Manufacturers Life Insurance Company Raises Stock Holdings in BRP Inc. $DOO

The Manufacturers Life Insurance Company boosted its stake in BRP Inc. (NASDAQ:DOO) by 2.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,078,181 shares of the company’s stock after acquiring an additional 23,055 shares during the period. The Manufacturers Life Insurance Company’s holdings in BRP were worth $65,728,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DOO. Pictet Asset Management Holding SA boosted its stake in BRP by 4.8% during the first quarter. Pictet Asset Management Holding SA now owns 7,156 shares of the company’s stock worth $513,000 after buying an additional 331 shares during the period. Deutsche Bank AG raised its stake in shares of BRP by 6.0% in the 2nd quarter. Deutsche Bank AG now owns 7,124 shares of the company’s stock valued at $435,000 after acquiring an additional 402 shares during the period. State of Wyoming lifted its holdings in shares of BRP by 21.4% in the 2nd quarter. State of Wyoming now owns 2,317 shares of the company’s stock worth $141,000 after acquiring an additional 408 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of BRP by 3.5% in the 2nd quarter. BlackRock Inc. now owns 12,364 shares of the company’s stock worth $754,000 after acquiring an additional 417 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of BRP during the 4th quarter worth approximately $30,000.

BRP Stock Up 0.5%

Shares of DOO opened at $60.99 on Friday. The company’s 50-day simple moving average is $62.47 and its 200-day simple moving average is $62.60. The company has a debt-to-equity ratio of 7.31, a quick ratio of 0.52 and a current ratio of 1.19. BRP Inc. has a 1 year low of $48.83 and a 1 year high of $81.89. The stock has a market capitalization of $4.47 billion, a PE ratio of 55.45 and a beta of 0.88.

BRP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. BRP’s dividend payout ratio is 65.45%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stifel Nicolaus downgraded shares of BRP from a “buy” rating to a “hold” rating in a report on Friday, May 29th. Scotiabank restated a “sector perform” rating on shares of BRP in a research note on Friday, September 4th. Royal Bank Of Canada restated an “outperform” rating on shares of BRP in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of BRP in a research report on Friday, May 29th. Finally, UBS Group dropped 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, June 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.00.

About BRP

BRP Inc is a Canadian manufacturer of powersports and recreational products. The company develops, manufactures, distributes and sells vehicles and related products through a portfolio of well-known brands, including Ski-Doo snowmobiles, Sea-Doo personal watercraft, Can-Am on-road and off-road vehicles, and Rotax engines and propulsion systems.

BRP also offers marine products through its boat brands, including Alumacraft, Manitou and Quintrex. Its product portfolio is supported by parts, accessories, apparel and other services designed to complement its vehicles and recreational equipment.

The company traces its origins to 1942, when Joseph-Armand Bombardier founded the business that developed the first Ski-Doo snowmobile.