Wells Fargo & Company MN Purchases 10,684 Shares of Briggs & Stratton Co. (BGG)

Wells Fargo & Company MN raised its position in Briggs & Stratton Co. (NYSE:BGG) by 18.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 69,179 shares of the industrial products company’s stock after buying an additional 10,684 shares during the quarter. Wells Fargo & Company MN owned about 0.16% of Briggs & Stratton worth $1,627,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BGG. BlackRock Inc. boosted its position in shares of Briggs & Stratton by 15.8% during the 2nd quarter. BlackRock Inc. now owns 6,559,290 shares of the industrial products company’s stock worth $158,080,000 after purchasing an additional 892,989 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Briggs & Stratton by 12.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 830,029 shares of the industrial products company’s stock worth $19,571,000 after purchasing an additional 90,831 shares in the last quarter. Northern Trust Corp boosted its position in shares of Briggs & Stratton by 8.0% during the 2nd quarter. Northern Trust Corp now owns 898,841 shares of the industrial products company’s stock worth $21,662,000 after purchasing an additional 66,716 shares in the last quarter. Menta Capital LLC purchased a new stake in shares of Briggs & Stratton during the 2nd quarter worth $1,443,000. Finally, State Street Corp boosted its position in shares of Briggs & Stratton by 4.7% during the 2nd quarter. State Street Corp now owns 1,189,916 shares of the industrial products company’s stock worth $28,674,000 after purchasing an additional 53,505 shares in the last quarter. 82.98% of the stock is currently owned by institutional investors.

In related news, insider Todd J. Teske sold 60,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $24.01, for a total value of $1,440,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrea L. Golvach sold 19,174 shares of the business’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 completion of the sale, the vice president now owns 27,197 shares in the company, valued at $685,364.40. The disclosure for this sale can be found here. Insiders sold a total of 97,174 shares of company stock worth $2,360,825 over the last quarter. Insiders own 4.20% of the company’s stock.

Shares of Briggs & Stratton Co. (NYSE:BGG) opened at $27.12 on Friday. The company has a market cap of $1,139.71, a price-to-earnings ratio of 19.41 and a beta of 0.78. Briggs & Stratton Co. has a 1 year low of $20.00 and a 1 year high of $27.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.70 and a current ratio of 1.82.

Briggs & Stratton (NYSE:BGG) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.08. Briggs & Stratton had a net margin of 3.05% and a return on equity of 11.38%. The business had revenue of $329.10 million for the quarter, compared to analyst estimates of $295.84 million. During the same period in the previous year, the firm earned ($0.34) EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. sell-side analysts predict that Briggs & Stratton Co. will post 1.6 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Friday, December 15th were given a $0.14 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.06%. Briggs & Stratton’s dividend payout ratio is presently 43.75%.

Several equities research analysts have commented on BGG shares. ValuEngine upgraded shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Robert W. Baird restated a “hold” rating and set a $26.00 target price on shares of Briggs & Stratton in a research report on Tuesday, January 9th. Raymond James Financial upgraded shares of Briggs & Stratton from an “underperform” rating to a “market perform” rating in a research report on Tuesday. Citigroup upgraded shares of Briggs & Stratton to a “market perform” rating in a research report on Tuesday. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Briggs & Stratton from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Briggs & Stratton has a consensus rating of “Hold” and an average target price of $27.33.

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Briggs & Stratton 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.

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

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