Principal Financial Group Inc. Acquires 3,147 Shares of Big Lots Inc. (BIG)
Principal Financial Group Inc. raised its stake in shares of Big Lots Inc. (NYSE:BIG) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,757 shares of the company’s stock after buying an additional 3,147 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Big Lots worth $8,557,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in BIG. LS Investment Advisors LLC raised its stake in Big Lots by 48.8% in the second quarter. LS Investment Advisors LLC now owns 2,716 shares of the company’s stock valued at $136,000 after buying an additional 891 shares in the last quarter. American Financial Group Inc. acquired a new stake in Big Lots during the second quarter valued at approximately $211,000. Advance Capital I Inc. acquired a new stake in Big Lots during the second quarter valued at approximately $215,000. KBC Group NV acquired a new stake in Big Lots during the second quarter valued at approximately $252,000. Finally, Parkwood LLC acquired a new stake in Big Lots during the second quarter valued at approximately $291,000.
Big Lots Inc. (NYSE:BIG) opened at 44.61 on Wednesday. The stock’s 50 day moving average is $47.41 and its 200-day moving average is $49.05. The company has a market capitalization of $1.99 billion, a P/E ratio of 13.88 and a beta of 0.77. Big Lots Inc. has a 12-month low of $33.78 and a 12-month high of $56.30.
Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, August 26th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Big Lots had a net margin of 2.96% and a return on equity of 25.68%. The business had revenue of $1.20 billion for the quarter. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Big Lots Inc. will post $3.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.84 annualized dividend and a dividend yield of 1.88%. Big Lots’s dividend payout ratio (DPR) is presently 26.50%.
Several equities research analysts recently commented on the stock. KeyCorp reduced their price target on shares of Big Lots from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 6th. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Monday, August 29th. Barclays PLC assumed coverage on shares of Big Lots in a research report on Friday, September 23rd. They issued an “equal weight” rating and a $51.00 target price for the company. MKM Partners reiterated a “buy” rating and issued a $60.00 target price on shares of Big Lots in a research report on Thursday, August 25th. Finally, Northcoast Research downgraded shares of Big Lots from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $49.72.
In related news, insider Timothy A. Johnson sold 12,262 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $50.88, for a total value of $623,890.56. Following the transaction, the insider now directly owns 96,615 shares in the company, valued at $4,915,771.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
Big Lots Company Profile
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