JPMorgan Chase & Co. Increases Stake in Briggs & Stratton Corporation (BGG)
JPMorgan Chase & Co. grew its holdings in Briggs & Stratton Corporation (NYSE:BGG) by 12.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 830,029 shares of the industrial products company’s stock after buying an additional 90,831 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.94% of Briggs & Stratton worth $19,571,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in BGG. Public Employees Retirement System of Ohio increased its stake in shares of Briggs & Stratton by 4.2% in the second quarter. Public Employees Retirement System of Ohio now owns 7,230 shares of the industrial products company’s stock valued at $174,000 after buying an additional 293 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Briggs & Stratton in the second quarter valued at $181,000. SG Americas Securities LLC increased its stake in shares of Briggs & Stratton by 12.3% in 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 in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Briggs & Stratton in the second quarter worth about $223,000. Finally, OxFORD Asset Management LLP acquired a new stake in Briggs & Stratton in the second quarter worth about $260,000. Institutional investors own 83.02% of the company’s stock.
A number of analysts recently commented on BGG shares. Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 29th. ValuEngine upgraded Briggs & Stratton from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, Raymond James Financial reiterated an “underperform” rating on shares of Briggs & Stratton in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.50.
Shares of Briggs & Stratton Corporation (BGG) opened at $24.70 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.82 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1,058.69, a PE ratio of 18.03 and a beta of 0.78. Briggs & Stratton Corporation has a 12-month low of $20.00 and a 12-month high of $25.95.
Briggs & Stratton (NYSE:BGG) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported ($0.27) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.08. The firm had revenue of $329.10 million during the quarter, compared to analyst estimates of $295.84 million. Briggs & Stratton had a return on equity of 11.38% and a net margin of 3.05%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. analysts anticipate that Briggs & Stratton Corporation will post 1.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Friday, December 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 annualized dividend and a dividend yield of 2.27%. Briggs & Stratton’s payout ratio is currently 43.75%.
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.
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