Shares of Briggs & Stratton Corp. (NYSE:BGG) fell 2.2% during trading on Monday . The stock traded as low as $22.82 and last traded at $22.83, with a volume of 142,784 shares changing hands. The stock had previously closed at $23.35.

Several research firms recently commented on BGG. Robert W. Baird downgraded shares of Briggs & Stratton Corp. from an “outperform” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Friday, April 15th. Zacks Investment Research downgraded shares of Briggs & Stratton Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. Finally, Raymond James Financial Inc. downgraded shares of Briggs & Stratton Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.00.

The company has a 50-day moving average price of $21.72 and a 200 day moving average price of $21.66. The stock has a market capitalization of $975.04 million and a P/E ratio of 24.30.

In other news, CEO Todd J. Teske sold 30,000 shares of Briggs & Stratton Corp. stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $22.09, for a total transaction of $662,700.00. Following the sale, the chief executive officer now owns 329,413 shares in the company, valued at $7,276,733.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David G. Debaets sold 6,380 shares of Briggs & Stratton Corp. stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $22.00, for a total transaction of $140,360.00. Following the sale, the vice president now owns 28,656 shares in the company, valued at approximately $630,432. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in Briggs & Stratton Corp. by 1,860.5% in the fourth quarter. Bank of Montreal Can now owns 98,614 shares of the company’s stock worth $1,706,000 after buying an additional 93,584 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in Briggs & Stratton Corp. during the fourth quarter worth $1,525,000. Victory Capital Management Inc. increased its stake in Briggs & Stratton Corp. by 7.8% in the fourth quarter. Victory Capital Management Inc. now owns 938,935 shares of the company’s stock worth $16,244,000 after buying an additional 67,675 shares during the last quarter. Wells Fargo & Company MN increased its stake in Briggs & Stratton Corp. by 6.3% in the fourth quarter. Wells Fargo & Company MN now owns 976,328 shares of the company’s stock worth $16,891,000 after buying an additional 58,162 shares during the last quarter. Finally, Investment Management of Virginia LLC increased its stake in Briggs & Stratton Corp. by 6.6% in the fourth quarter. Investment Management of Virginia LLC now owns 167,984 shares of the company’s stock worth $2,906,000 after buying an additional 10,420 shares during the last quarter.

Briggs & Stratton Corporation is a producer of air cooled gasoline engines for outdoor power equipment. The Company designs, manufactures, markets and services these products for original equipment manufacturers (OEMs) worldwide. In addition, the Company markets and sells related service parts and accessories for its engines.

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