Alliancebernstein L.P. decreased its stake in shares of Briggs & Stratton Corporation (NYSE:BGG) by 54.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,665 shares of the industrial products company’s stock after selling 79,280 shares during the period. Alliancebernstein L.P. owned about 0.16% of Briggs & Stratton Corporation worth $1,497,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in Briggs & Stratton Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 4,750 shares of the industrial products company’s stock worth $106,000 after buying an additional 80 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Briggs & Stratton Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,010 shares of the industrial products company’s stock valued at $225,000 after buying an additional 655 shares during the period. Karp Capital Management Corp bought a new position in Briggs & Stratton Corporation during the first quarter valued at approximately $257,000. TD Asset Management Inc. raised its position in Briggs & Stratton Corporation by 7.2% in the first quarter. TD Asset Management Inc. now owns 12,825 shares of the industrial products company’s stock valued at $288,000 after buying an additional 856 shares in the last quarter. Finally, Nine Chapters Capital Management LLC bought a new position in Briggs & Stratton Corporation during the first quarter valued at approximately $330,000. 85.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Briggs & Stratton Corporation (NYSE BGG) opened at 23.58 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 24.11 and a beta of 0.69. Briggs & Stratton Corporation has a 52 week low of $17.90 and a 52 week high of $25.92. The firm’s 50-day moving average is $23.76 and its 200-day moving average is $22.99.
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Several analysts recently issued reports on the stock. BidaskClub lowered shares of Briggs & Stratton Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Briggs & Stratton Corporation has an average rating of “Hold” and a consensus target price of $24.33.
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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