Mitsubishi UFJ Trust & Banking Corp grew its holdings in Big Lots, Inc. (NYSE:BIG – Get Rating) by 24.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,743 shares of the company’s stock after buying an additional 3,138 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of Big Lots worth $231,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in BIG. Citigroup Inc. lifted its holdings in Big Lots by 1.2% during the 1st quarter. Citigroup Inc. now owns 30,213 shares of the company’s stock worth $1,045,000 after purchasing an additional 347 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Big Lots by 8.0% during the first quarter. Cetera Advisor Networks LLC now owns 6,633 shares of the company’s stock worth $230,000 after buying an additional 489 shares in the last quarter. US Bancorp DE boosted its position in shares of Big Lots by 32.5% in the first quarter. US Bancorp DE now owns 2,053 shares of the company’s stock valued at $71,000 after acquiring an additional 503 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Big Lots by 1.9% in the fourth quarter. SummerHaven Investment Management LLC now owns 33,843 shares of the company’s stock valued at $497,000 after acquiring an additional 624 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in Big Lots by 19.9% during the third quarter. Mutual of America Capital Management LLC now owns 5,753 shares of the company’s stock worth $90,000 after acquiring an additional 956 shares during the period.
Analyst Ratings Changes
A number of analysts have issued reports on BIG shares. StockNews.com downgraded shares of Big Lots from a “hold” rating to a “sell” rating in a report on Monday. The Goldman Sachs Group reduced their price target on Big Lots from $14.00 to $5.00 in a research report on Wednesday. Credit Suisse Group dropped their price objective on Big Lots from $15.00 to $13.00 and set an “underperform” rating for the company in a report on Monday, March 6th. Telsey Advisory Group reduced their target price on Big Lots from $20.00 to $16.00 and set a “market perform” rating on the stock in a report on Tuesday, February 28th. Finally, Piper Sandler cut Big Lots from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $12.00 to $7.00 in a research report on Friday, April 21st. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, Big Lots presently has an average rating of “Reduce” and an average price target of $10.50.
Big Lots Stock Performance
Big Lots (NYSE:BIG – Get Rating) last posted its quarterly earnings results on Friday, May 26th. The company reported ($3.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.84) by ($1.56). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. Big Lots had a negative net margin of 7.78% and a negative return on equity of 34.74%. The company’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.39) earnings per share. On average, analysts anticipate that Big Lots, Inc. will post -5.35 EPS for the current fiscal year.
Big Lots Profile
Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment. The Discount Retailing segment includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A.
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