Briggs & Stratton Corporation (BGG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Briggs & Stratton Corporation (NYSE:BGG) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,754 shares of the industrial products company’s stock after selling 1,549 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Briggs & Stratton Corporation worth $790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BGG. Public Employees Retirement System of Ohio grew its holdings in shares of Briggs & Stratton Corporation by 3.9% during the first quarter. Public Employees Retirement System of Ohio now owns 6,937 shares of the industrial products company’s stock valued at $156,000 after buying an additional 263 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Briggs & Stratton Corporation during the second quarter valued at $181,000. SG Americas Securities LLC grew its holdings in shares of Briggs & Stratton Corporation by 12.3% during the second quarter. SG Americas Securities LLC now owns 8,157 shares of the industrial products company’s stock valued at $197,000 after buying an additional 895 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Briggs & Stratton Corporation by 76.9% during the second quarter. State of Alaska Department of Revenue now owns 8,403 shares of the industrial products company’s stock valued at $202,000 after buying an additional 3,653 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new stake in shares of Briggs & Stratton Corporation during the second quarter valued at $260,000. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on BGG. Zacks Investment Research raised shares of Briggs & Stratton Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Monday, October 30th. ValuEngine raised shares of Briggs & Stratton Corporation from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Briggs & Stratton Corporation in a report on Tuesday, October 17th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Briggs & Stratton Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.50.

In related news, insider Todd J. Teske sold 5,830 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $20.68, for a total transaction of $120,564.40. Following the completion of the transaction, the insider now owns 379,417 shares in the company, valued at approximately $7,846,343.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrea L. Golvach sold 19,174 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $25.20, for a total transaction of $483,184.80. Following the transaction, the vice president now owns 27,197 shares of the company’s stock, valued at approximately $685,364.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,004 shares of company stock valued at $1,185,619. Insiders own 4.20% of the company’s stock.

Shares of Briggs & Stratton Corporation (NYSE BGG) opened at $24.13 on Friday. Briggs & Stratton Corporation has a 1-year low of $20.00 and a 1-year high of $25.95. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.82 and a quick ratio of 0.70. The company has a market cap of $1,012.41, a price-to-earnings ratio of 17.24 and a beta of 0.79.

Briggs & Stratton Corporation (NYSE:BGG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. The business had revenue of $329.10 million during the quarter, compared to the consensus estimate of $295.84 million. Briggs & Stratton Corporation had a net margin of 3.05% and a return on equity of 11.38%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. equities research analysts anticipate that Briggs & Stratton Corporation will post 1.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Friday, December 15th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.32%. Briggs & Stratton Corporation’s dividend payout ratio (DPR) is currently 43.75%.

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Briggs & Stratton Corporation Company Profile

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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Institutional Ownership by Quarter for Briggs & Stratton Corporation (NYSE:BGG)

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