Briggs & Stratton Co. (BGG) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Briggs & Stratton Co. (NYSE:BGG) by 7.9% during the fourth quarter, Holdings Channel reports. The fund owned 68,323 shares of the industrial products company’s stock after purchasing an additional 4,973 shares during the quarter. Hsbc Holdings PLC’s holdings in Briggs & Stratton were worth $893,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Piedmont Investment Advisors Inc. purchased a new stake in shares of Briggs & Stratton during the fourth quarter worth about $132,000. PNC Financial Services Group Inc. increased its holdings in Briggs & Stratton by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,833 shares of the industrial products company’s stock valued at $194,000 after buying an additional 1,458 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Briggs & Stratton in the third quarter valued at about $195,000. Oregon Public Employees Retirement Fund bought a new stake in Briggs & Stratton in the fourth quarter valued at about $211,000. Finally, Crossmark Global Holdings Inc. increased its holdings in Briggs & Stratton by 38.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 17,409 shares of the industrial products company’s stock valued at $228,000 after buying an additional 4,820 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

Shares of BGG stock opened at $12.35 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.31 and a quick ratio of 0.47. Briggs & Stratton Co. has a 52 week low of $11.34 and a 52 week high of $21.83. The company has a market capitalization of $520.00 million, a price-to-earnings ratio of 9.57 and a beta of 0.90.

Briggs & Stratton (NYSE:BGG) last issued its earnings results on Wednesday, January 23rd. The industrial products company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). Briggs & Stratton had a negative net margin of 1.24% and a positive return on equity of 8.12%. The company had revenue of $505.50 million during the quarter, compared to analyst estimates of $461.71 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, analysts predict that Briggs & Stratton Co. will post 1.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Tuesday, March 19th will be paid a $0.14 dividend. The ex-dividend date is Monday, March 18th. This represents a $0.56 dividend on an annualized basis and a yield of 4.53%. Briggs & Stratton’s payout ratio is currently 43.41%.

Several analysts recently weighed in on the company. Sidoti lowered their price objective on Briggs & Stratton from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, December 6th. Zacks Investment Research lowered Briggs & Stratton from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 29th. ValuEngine lowered Briggs & Stratton from a “sell” rating to a “strong sell” rating in a report on Thursday, January 24th. Finally, Robert W. Baird set a $14.00 price objective on Briggs & Stratton and gave the company a “hold” rating in a report on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.50.

In related news, Director Frank M. Jaehnert bought 10,000 shares of the firm’s stock in a transaction on Monday, January 28th. The stock was bought at an average cost of $12.04 per share, for a total transaction of $120,400.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $301,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.30% of the company’s stock.

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Briggs & Stratton Company Profile

Briggs & Stratton Corporation designs, manufactures, markets, sells, and services gasoline engines for outdoor power equipment to the original equipment manufacturers in the United States. It operates in two segments, Engines and Products. The Engines segment offers four-cycle aluminum alloy gasoline engines that are used primarily by the lawn and garden equipment industry.

Further Reading: Calculate Your Return on Investment (ROI)

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

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