Geode Capital Management LLC Has $12.98 Million Position in BRP Inc. (NASDAQ:DOOO)

Geode Capital Management LLC increased its position in BRP Inc. (NASDAQ:DOOO) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,186 shares of the company’s stock after buying an additional 15,892 shares during the quarter. Geode Capital Management LLC owned 0.29% of BRP worth $12,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. 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 valued at $25,000 after purchasing an additional 322 shares during the period. Quantbot Technologies LP increased its position in BRP by 9.7% during the 3rd quarter. Quantbot Technologies LP now owns 3,827 shares of the company’s stock valued at $228,000 after purchasing an additional 337 shares during the period. Bank of New York Mellon Corp increased its position in BRP by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,666 shares of the company’s stock valued at $1,964,000 after purchasing an additional 520 shares during the period. Spartan Fund Management Inc. acquired a new stake in BRP during the 3rd quarter valued at approximately $72,000. Finally, Van ECK Associates Corp increased its position in BRP by 18.6% during the 3rd quarter. Van ECK Associates Corp now owns 9,520 shares of the company’s stock valued at $567,000 after purchasing an additional 1,490 shares during the period.

BRP Price Performance

Shares of DOOO opened at $50.35 on Tuesday. BRP Inc. has a 12-month low of $46.85 and a 12-month high of $75.59. The business’s fifty day moving average is $50.17 and its 200 day moving average is $59.58. The company has a quick ratio of 0.37, a current ratio of 1.37 and a debt-to-equity ratio of 5.19. The stock has a market cap of $3.68 billion, a P/E ratio of 26.78 and a beta of 2.03.

BRP Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.1485 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, December 31st. BRP’s dividend payout ratio is currently 32.98%.

Analyst Upgrades and Downgrades

DOOO has been the subject of a number of recent analyst reports. Citigroup decreased their target price 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. Scotiabank cut BRP from a “sector outperform” rating to a “sector perform” rating in a report on Monday, September 9th. Cibc World Mkts cut BRP from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Desjardins cut BRP from a “moderate buy” rating to a “hold” rating in a report on Sunday, September 8th. Finally, UBS Group cut their price target on BRP from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Six investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.00.

BRP Company Profile

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.