Charles Schwab Investment Management Inc. Reduces Stake in BRP Inc. (NASDAQ:DOOO)

Charles Schwab Investment Management Inc. decreased its holdings in shares of BRP Inc. (NASDAQ:DOOO) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,803 shares of the company’s stock after selling 4,786 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.13% of BRP worth $5,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE raised its stake 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 acquiring an additional 322 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of BRP during the third quarter worth about $72,000. Lake Street Advisors Group LLC purchased a new stake in shares of BRP in the 2nd quarter valued at about $201,000. Intech Investment Management LLC purchased a new stake in shares of BRP in the 2nd quarter valued at about $209,000. Finally, Creative Planning purchased a new position in BRP during the 3rd quarter worth approximately $227,000.

BRP Stock Performance

Shares of NASDAQ DOOO opened at $51.52 on Friday. The company has a 50-day simple moving average of $51.73 and a 200-day simple moving average of $60.60. The company has a debt-to-equity ratio of 4.99, a current ratio of 1.32 and a quick ratio of 0.37. The company has a market cap of $3.76 billion, a PE ratio of 27.40 and a beta of 2.03. BRP Inc. has a 12 month low of $46.85 and a 12 month high of $75.59.

BRP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.1485 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 31st. BRP’s dividend payout ratio is currently 32.98%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Scotiabank lowered shares of BRP from a “sector outperform” rating to a “sector perform” rating in a research note on Monday, September 9th. UBS Group lowered their target price on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. National Bank Financial cut shares of BRP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus lowered shares of BRP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Citigroup reduced their price objective on shares of BRP from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.