Pinebridge Investments L.P. lowered its stake in shares of Big Lots, Inc. (NYSE:BIG) by 24.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,704 shares of the company’s stock after selling 11,726 shares during the period. Pinebridge Investments L.P. owned 0.09% of Big Lots worth $1,050,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of BIG. Texas Permanent School Fund boosted its stake in Big Lots by 3.0% in the 1st quarter. Texas Permanent School Fund now owns 27,193 shares of the company’s stock worth $1,034,000 after buying an additional 794 shares during the last quarter. First Allied Advisory Services Inc. acquired a new position in shares of Big Lots in the 1st quarter valued at about $233,000. CIBC Asset Management Inc acquired a new position in shares of Big Lots in the 1st quarter valued at about $201,000. New York State Teachers Retirement System lifted its stake in shares of Big Lots by 14.6% in the 1st quarter. New York State Teachers Retirement System now owns 100,642 shares of the company’s stock valued at $3,826,000 after purchasing an additional 12,800 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Big Lots by 94.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,745 shares of the company’s stock valued at $523,000 after purchasing an additional 6,666 shares in the last quarter.
Shares of NYSE:BIG traded up $0.55 during mid-day trading on Friday, hitting $23.49. 396,778 shares of the company traded hands, compared to its average volume of 1,765,643. The firm has a market cap of $864.98 million, a P/E ratio of 5.81, a PEG ratio of 1.44 and a beta of 1.40. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.17 and a current ratio of 1.09. Big Lots, Inc. has a 52-week low of $19.83 and a 52-week high of $45.13. The firm’s 50 day simple moving average is $22.46 and its 200 day simple moving average is $29.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.20 annualized dividend and a yield of 5.11%. Big Lots’s dividend payout ratio is presently 29.70%.
In other Big Lots news, SVP Ronald A. Robins, Jr. sold 5,000 shares of Big Lots stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $23.42, for a total transaction of $117,100.00. Following the sale, the senior vice president now directly owns 30,532 shares in the company, valued at approximately $715,059.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.
Several research firms have recently weighed in on BIG. Bank of America set a $23.00 price objective on Big Lots and gave the company a “sell” rating in a research note on Wednesday, June 26th. Telsey Advisory Group set a $26.00 price objective on Big Lots and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Loop Capital lifted their price objective on Big Lots to $25.00 and gave the company a “hold” rating in a research note on Tuesday, September 3rd. Zacks Investment Research downgraded Big Lots from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a report on Monday, July 22nd. Finally, Barclays dropped their target price on Big Lots from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.83.
Big Lots Company Profile
Big Lots, Inc, through its subsidiaries, operates as a 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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