Insider Selling: Briggs & Stratton Corp. SVP Unloads 24,210 Shares of Stock (BGG)
Briggs & Stratton Corp. (NYSE:BGG) SVP Joseph C. Wright sold 24,210 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $20.85, for a total value of $504,778.50. Following the sale, the senior vice president now directly owns 60,765 shares of the company’s stock, valued at approximately $1,266,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Briggs & Stratton Corp. (NYSE:BGG) traded down 0.65% on Friday, hitting $20.615. The stock had a trading volume of 55,941 shares. Briggs & Stratton Corp. has a 52 week low of $18.18 and a 52 week high of $23.02. The stock has a 50-day moving average of $19.4 and a 200-day moving average of $20.92. The company has a market cap of $944.4 million and a P/E ratio of 35.17.
Briggs & Stratton Corp. (NYSE:BGG) last released its earnings data on Thursday, August 14th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.05. The company had revenue of $496.80 million for the quarter, compared to the consensus estimate of $495.93 million. Analysts expect that Briggs & Stratton Corp. will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Wednesday, September 17th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Monday, September 15th. This is a positive change from Briggs & Stratton Corp.’s previous quarterly dividend of $0.12.
A number of research firms have recently commented on BGG. Analysts at Off Wall Street reiterated a “sell” rating on shares of Briggs & Stratton Corp. in a research note on Friday, August 15th. Analysts at Zacks downgraded shares of Briggs & Stratton Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 24th. They now have a $18.10 price target on the stock.
Briggs & Stratton Corporation (NYSE:BGG) is a producer of air cooled gasoline engines for outdoor power equipment.
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