Briggs & Stratton Co. (NYSE:BGG) Position Lowered by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Briggs & Stratton Co. (NYSE:BGG) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,605 shares of the industrial products company’s stock after selling 7,363 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Briggs & Stratton worth $1,565,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in Briggs & Stratton by 4.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,230 shares of the industrial products company’s stock worth $174,000 after purchasing an additional 293 shares during the last quarter. Royal Bank of Canada grew its position in Briggs & Stratton by 3.7% during the 2nd quarter. Royal Bank of Canada now owns 18,622 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 659 shares during the last quarter. Teachers Advisors LLC grew its position in Briggs & Stratton by 1.2% during the 2nd quarter. Teachers Advisors LLC now owns 84,641 shares of the industrial products company’s stock worth $2,040,000 after purchasing an additional 965 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Briggs & Stratton by 6.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 25,790 shares of the industrial products company’s stock worth $622,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Briggs & Stratton by 10.7% during the 2nd quarter. Voya Investment Management LLC now owns 20,328 shares of the industrial products company’s stock worth $490,000 after purchasing an additional 1,963 shares during the last quarter. Hedge funds and other institutional investors own 84.55% of the company’s stock.

Shares of Briggs & Stratton Co. (NYSE:BGG) traded up $0.13 during trading hours on Monday, hitting $22.03. 301,784 shares of the stock traded hands, compared to its average volume of 480,375. The stock has a market capitalization of $939.77, a P/E ratio of 40.80 and a beta of 0.61. The company has a current ratio of 1.68, a quick ratio of 0.64 and a debt-to-equity ratio of 0.42. Briggs & Stratton Co. has a 1-year low of $20.00 and a 1-year high of $27.34.

Briggs & Stratton (NYSE:BGG) last issued its earnings results on Wednesday, January 24th. The industrial products company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $446.00 million for the quarter, compared to the consensus estimate of $424.00 million. Briggs & Stratton had a net margin of 1.31% and a return on equity of 10.25%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. sell-side analysts forecast that Briggs & Stratton Co. will post 1.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, March 15th. Briggs & Stratton’s dividend payout ratio (DPR) is 103.71%.

In related news, insider Todd J. Teske sold 60,000 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is owned by company insiders.

BGG has been the topic of several research reports. ValuEngine raised shares of Briggs & Stratton from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Robert W. Baird reissued a “hold” rating and set a $26.00 price objective on shares of Briggs & Stratton in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of Briggs & Stratton from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Raymond James Financial raised shares of Briggs & Stratton from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 16th. Finally, Citigroup raised shares of Briggs & Stratton to a “market perform” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.50.

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About Briggs & Stratton

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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