Principal Financial Group Inc. cut its holdings in shares of Big Lots, Inc. (NYSE:BIG) by 22.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 173,555 shares of the company’s stock after selling 49,113 shares during the period. Principal Financial Group Inc.’s holdings in Big Lots were worth $5,019,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BIG. FMR LLC increased its holdings in shares of Big Lots by 117.1% in the third quarter. FMR LLC now owns 662,971 shares of the company’s stock worth $27,706,000 after purchasing an additional 357,611 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Big Lots by 57.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 627,699 shares of the company’s stock worth $18,152,000 after acquiring an additional 229,500 shares in the last quarter. AQR Capital Management LLC grew its position in Big Lots by 9.6% in the third quarter. AQR Capital Management LLC now owns 2,127,047 shares of the company’s stock worth $88,890,000 after acquiring an additional 186,036 shares in the last quarter. Bessemer Group Inc. grew its position in Big Lots by 91.8% in the fourth quarter. Bessemer Group Inc. now owns 301,429 shares of the company’s stock worth $8,717,000 after acquiring an additional 144,276 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Big Lots by 452.3% in the fourth quarter. Prudential Financial Inc. now owns 167,462 shares of the company’s stock worth $4,843,000 after acquiring an additional 137,142 shares in the last quarter.
Several research analysts recently commented on BIG shares. Bank of America lifted their price target on Big Lots from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Morgan Stanley lifted their price target on Big Lots from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, March 11th. Deutsche Bank lowered Big Lots from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Zacks Investment Research upgraded Big Lots from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Finally, Goldman Sachs Group lowered Big Lots from a “buy” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $42.57.
In related news, insider Stephen M. Haffer sold 1,646 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $35.57, for a total value of $58,548.22. Following the completion of the transaction, the insider now owns 7,432 shares of the company’s stock, valued at $264,356.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas E. Padovano sold 4,734 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $38.19, for a total transaction of $180,791.46. Following the completion of the transaction, the insider now directly owns 10,776 shares of the company’s stock, valued at approximately $411,535.44. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Shares of NYSE BIG opened at $38.24 on Monday. The company has a quick ratio of 0.25, a current ratio of 1.77 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.58 billion, a P/E ratio of 9.47, a PEG ratio of 1.42 and a beta of 1.30. Big Lots, Inc. has a 52-week low of $26.21 and a 52-week high of $50.35.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, March 8th. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.38. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. Big Lots had a return on equity of 25.67% and a net margin of 3.00%. Big Lots’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.57 earnings per share. Analysts anticipate that Big Lots, Inc. will post 3.67 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.14%. Big Lots’s payout ratio is 29.70%.
Big Lots declared that its Board of Directors has approved a share repurchase program on Friday, March 8th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Big Lots Profile
Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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