Convergence Investment Partners LLC Acquires Shares of 19,493 Big Lots, Inc. (BIG)
Convergence Investment Partners LLC acquired a new position in shares of Big Lots, Inc. (NYSE:BIG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 19,493 shares of the company’s stock, valued at approximately $1,095,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BIG. DekaBank Deutsche Girozentrale increased its holdings in Big Lots by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock worth $144,000 after buying an additional 1,255 shares during the last quarter. Whittier Trust Co. bought a new position in Big Lots during the third quarter worth about $178,000. First Quadrant L P CA bought a new position in Big Lots during the third quarter worth about $182,000. Oppenheimer & Co. Inc. bought a new position in Big Lots during the third quarter worth about $200,000. Finally, Csenge Advisory Group bought a new position in Big Lots during the third quarter worth about $218,000.
Big Lots, Inc. (BIG) opened at $61.18 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24. Big Lots, Inc. has a 1 year low of $45.10 and a 1 year high of $61.23. The company has a market cap of $2,486.66, a P/E ratio of 14.29, a PEG ratio of 1.03 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. Big Lots’s dividend payout ratio (DPR) is currently 25.58%.
In other news, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $58.00, for a total value of $348,000.00. Following the completion of the transaction, the director now directly owns 7,566 shares in the company, valued at $438,828. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the insider now owns 65,649 shares of the company’s stock, valued at $3,610,695. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of Big Lots in a research report on Wednesday, January 10th. Citigroup lowered shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. They noted that the move was a valuation call. UBS Group lowered shares of Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. Piper Jaffray Companies set a $52.00 target price on shares of Big Lots and gave the stock a “hold” rating in a research report on Sunday, October 1st. Finally, Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, October 10th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Big Lots has an average rating of “Buy” and an average price target of $60.64.
Big Lots Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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