Insider Selling: Todd J. Teske Sells 43,620 Shares of Briggs & Stratton Co. Stock (BGG)
Briggs & Stratton Co. (NYSE:BGG) CEO Todd J. Teske unloaded 43,620 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $20.49, for a total value of $893,773.80. Following the transaction, the chief executive officer now directly owns 285,836 shares in the company, valued at approximately $5,856,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Briggs & Stratton Co. (NYSE:BGG) traded down 1.57% on Thursday, hitting $20.10. 456,445 shares of the company’s stock traded hands. Briggs & Stratton Co. has a 1-year low of $18.18 and a 1-year high of $23.02. The stock has a 50-day moving average of $19.47 and a 200-day moving average of $20.92. The company has a market cap of $920.8 million and a price-to-earnings ratio of 34.61.
Briggs & Stratton Co. (NYSE:BGG) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters 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. On average, analysts predict that Briggs & Stratton Co. will post $1.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors 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 2.49%. The ex-dividend date is Monday, September 15th. This is an increase from Briggs & Stratton Co.’s previous quarterly dividend of $0.12.
Several analysts have recently commented on the stock. Analysts at Off Wall Street reiterated a “sell” rating on shares of Briggs & Stratton Co. in a research note on Friday, August 15th. Analysts at Zacks downgraded shares of Briggs & Stratton Co. 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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