California Public Employees Retirement System lowered its stake in Kirkland’s, Inc. (NASDAQ:KIRK) by 3.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,900 shares of the specialty retailer’s stock after selling 5,000 shares during the quarter. California Public Employees Retirement System owned 0.83% of Kirkland’s worth $1,356,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. AlphaOne Investment Services LLC boosted its holdings in Kirkland’s by 63.1% in the second quarter. AlphaOne Investment Services LLC now owns 322,164 shares of the specialty retailer’s stock worth $3,310,000 after purchasing an additional 124,661 shares during the last quarter. Northern Trust Corp boosted its holdings in Kirkland’s by 2.5% in the second quarter. Northern Trust Corp now owns 188,925 shares of the specialty retailer’s stock worth $1,942,000 after purchasing an additional 4,683 shares during the last quarter. Penn Capital Management Co. Inc. boosted its holdings in Kirkland’s by 1.0% in the second quarter. Penn Capital Management Co. Inc. now owns 392,821 shares of the specialty retailer’s stock worth $4,038,000 after purchasing an additional 3,992 shares during the last quarter. Citigroup Inc. boosted its holdings in Kirkland’s by 13.0% in the second quarter. Citigroup Inc. now owns 27,315 shares of the specialty retailer’s stock worth $281,000 after purchasing an additional 3,144 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Kirkland’s in the second quarter worth approximately $327,000. Institutional investors own 87.80% of the company’s stock.

KIRK has been the topic of several research reports. B. Riley restated a “buy” rating and issued a $14.50 target price on shares of Kirkland’s in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Kirkland’s from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, August 23rd. Finally, Sidoti upgraded shares of Kirkland’s from a “neutral” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a report on Tuesday, August 22nd.

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Shares of Kirkland’s, Inc. (NASDAQ KIRK) opened at $11.51 on Wednesday. Kirkland’s, Inc. has a fifty-two week low of $8.17 and a fifty-two week high of $17.41. The stock has a market cap of $192.64, a P/E ratio of 23.15, a P/E/G ratio of 1.43 and a beta of 1.23.

Kirkland’s (NASDAQ:KIRK) last released its quarterly earnings results on Tuesday, August 22nd. The specialty retailer reported ($0.24) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. Kirkland’s had a net margin of 1.40% and a return on equity of 6.59%. The business had revenue of $131.68 million for the quarter, compared to the consensus estimate of $125.44 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. analysts forecast that Kirkland’s, Inc. will post 0.56 earnings per share for the current fiscal year.

Kirkland’s declared that its board has authorized a stock buyback program on Tuesday, August 22nd that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

About Kirkland’s

Kirkland’s, Inc is a specialty retailer of home decor and gifts in the United States. The Company’s merchandise categories include wall decor, art, mirrors, lamps, decorative accessories, accent furniture, textiles, fragrance and accessories, frames, housewares, impulse and personal accessories, outdoor living and artificial floral products.

Institutional Ownership by Quarter for Kirkland`s (NASDAQ:KIRK)

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