ValuEngine lowered shares of Briggs & Stratton Corporation (NYSE:BGG) from a buy rating to a hold rating in a research report report published on Friday.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Briggs & Stratton Corporation from a hold rating to a buy rating and set a $26.00 price target for the company in a research report on Friday, August 11th. BidaskClub raised shares of Briggs & Stratton Corporation from a strong sell rating to a sell rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $25.50.
Shares of Briggs & Stratton Corporation (NYSE:BGG) opened at 24.12 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of 18.41 and a beta of 0.72. Briggs & Stratton Corporation has a one year low of $17.90 and a one year high of $25.92. The stock has a 50 day moving average of $22.08 and a 200 day moving average of $23.17.
Briggs & Stratton Corporation (NYSE:BGG) last issued its earnings results on Wednesday, August 16th. The industrial products company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). Briggs & Stratton Corporation had a return on equity of 11.24% and a net margin of 3.17%. The business had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $537.82 million. During the same period last year, the firm posted $0.46 EPS. Briggs & Stratton Corporation’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts forecast that Briggs & Stratton Corporation will post $1.38 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, September 14th. Briggs & Stratton Corporation’s payout ratio is currently 43.08%.
In related news, SVP William H. Reitman sold 7,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $20.69, for a total value of $144,830.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Todd J. Teske sold 5,830 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $20.68, for a total transaction of $120,564.40. Following the completion of the sale, the insider now directly owns 379,417 shares of the company’s stock, valued at $7,846,343.56. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BGG. Public Employees Retirement System of Ohio increased its holdings in Briggs & Stratton Corporation by 3.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 263 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in Briggs & Stratton Corporation in the 2nd quarter worth approximately $181,000. SG Americas Securities LLC increased its holdings in Briggs & Stratton Corporation by 12.3% in the 2nd quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 895 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Briggs & Stratton Corporation by 76.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Briggs & Stratton Corporation by 1.9% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,780 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 180 shares in the last quarter. 82.88% of the stock is owned by institutional investors.
About Briggs & Stratton Corporation
Briggs & Stratton Corporation is a producer of gasoline engines for outdoor power equipment. The Company designs, manufactures, markets, sells and services the various products for original equipment manufacturers (OEMs) around the world. It also markets and sells related service parts and accessories for its engines.
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