BRP Inc. (NASDAQ:DOOO) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its stake in shares of BRP Inc. (NASDAQ:DOOO) by 6.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 30,834 shares of the company’s stock after selling 2,197 shares during the period. CIBC Asset Management Inc’s holdings in BRP were worth $2,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc. boosted its stake in shares of BRP by 0.8% in the third quarter. TD Asset Management Inc. now owns 206,957 shares of the company’s stock worth $19,153,000 after buying an additional 1,690 shares during the last quarter. Pembroke Management LTD boosted its position in BRP by 0.7% in the 3rd quarter. Pembroke Management LTD now owns 288,481 shares of the company’s stock worth $33,822,000 after purchasing an additional 2,077 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of BRP during the 3rd quarter worth approximately $2,102,000. Advisor Group Holdings Inc. increased its holdings in shares of BRP by 30.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 1,623 shares of the company’s stock valued at $151,000 after purchasing an additional 375 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of BRP by 1.0% in the 3rd quarter. Raymond James & Associates now owns 34,080 shares of the company’s stock valued at $3,150,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 26.43% of the company’s stock.

DOOO opened at $81.20 on Friday. The company’s 50 day simple moving average is $83.55 and its two-hundred day simple moving average is $85.70. BRP Inc. has a 1-year low of $63.79 and a 1-year high of $102.96. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 10.57 and a beta of 2.74.

BRP (NASDAQ:DOOO) last posted its quarterly earnings results on Wednesday, December 1st. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $0.94 by $0.54. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.76 billion. BRP had a negative return on equity of 223.71% and a net margin of 11.90%. During the same quarter last year, the firm earned $1.60 earnings per share. On average, sell-side analysts forecast that BRP Inc. will post 7.41 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Friday, December 31st were given a dividend of $0.102 per share. The ex-dividend date was Thursday, December 30th. This represents a $0.41 annualized dividend and a dividend yield of 0.50%. BRP’s payout ratio is 5.34%.

A number of research analysts have weighed in on DOOO shares. National Bank Financial cut their price objective on shares of BRP from C$131.00 to C$128.00 and set an “outperform” rating for the company in a report on Thursday, December 2nd. Scotiabank initiated coverage on BRP in a research note on Friday, December 17th. They issued an “outperform” rating for the company. CIBC increased their price target on BRP from C$134.00 to C$135.00 and gave the stock an “outperform” rating in a research report on Thursday, December 2nd. boosted their price objective on BRP from C$125.00 to C$130.00 and gave the company a “buy” rating in a research report on Thursday, December 2nd. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of BRP in a research note on Monday, December 6th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BRP presently has an average rating of “Buy” and an average price target of $133.43.

BRP Company Profile

BRP, Inc is a holding company, which engages in the design, development, manufacture, distribution, and marketing of power sports vehicles and marine products. The firm operates through the Powersports and Marine segments. The Powersports segment includes Year-Round Products, Seasonal Products and Powersports PA&A and OEM Engines.

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Institutional Ownership by Quarter for BRP (NASDAQ:DOOO)

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