Allianz Asset Management GmbH cut its stake in Big Lots, Inc. (NYSE:BIG) by 6.8% in the third quarter, Holdings Channel reports. The fund owned 452,655 shares of the company’s stock after selling 32,914 shares during the period. Allianz Asset Management GmbH’s holdings in Big Lots were worth $18,916,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of BIG. Itau Unibanco Holding S.A. boosted its position in Big Lots by 87.4% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,569 shares of the company’s stock worth $149,000 after acquiring an additional 1,665 shares during the last quarter. Toronto Dominion Bank acquired a new position in Big Lots during the 3rd quarter worth approximately $167,000. Meadow Creek Investment Management LLC boosted its position in Big Lots by 58.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,880 shares of the company’s stock worth $204,000 after acquiring an additional 1,808 shares during the last quarter. Bridgewater Associates LP acquired a new position in Big Lots during the 2nd quarter worth approximately $211,000. Finally, BKS Advisors LLC acquired a new position in Big Lots during the 3rd quarter worth approximately $221,000.
BIG has been the subject of a number of recent research reports. Piper Jaffray Companies raised Big Lots from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $43.00 to $53.00 in a research report on Monday, November 19th. ValuEngine raised Big Lots from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 11th. Bank of America initiated coverage on Big Lots in a research report on Monday, November 5th. They set a “buy” rating and a $56.00 price target for the company. Finally, Loop Capital upped their price target on Big Lots from $48.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, August 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $50.81.
NYSE BIG opened at $31.00 on Friday. The company has a market capitalization of $1.68 billion, a PE ratio of 6.97, a P/E/G ratio of 1.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.69 and a quick ratio of 0.32. Big Lots, Inc. has a 12 month low of $30.32 and a 12 month high of $64.42.
Big Lots (NYSE:BIG) last released its quarterly earnings data on Friday, December 7th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.15). The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Big Lots had a net margin of 3.14% and a return on equity of 27.83%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. On average, sell-side analysts forecast that Big Lots, Inc. will post 4.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, December 13th. Big Lots’s payout ratio is presently 26.97%.
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Big Lots Company 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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