Xact Kapitalforvaltning AB Invests $382,000 in Big Lots (BIG) Stock

Xact Kapitalforvaltning AB bought a new stake in Big Lots (NYSE:BIG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,802 shares of the company’s stock, valued at approximately $382,000.

A number of other large investors have also bought and sold shares of BIG. Sei Investments Co. raised its position in Big Lots by 488.2% in the fourth quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock valued at $25,515,000 after purchasing an additional 625,395 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Big Lots in the fourth quarter valued at $25,598,000. J. Goldman & Co LP purchased a new stake in Big Lots in the fourth quarter valued at $21,077,000. APG Asset Management N.V. raised its position in Big Lots by 160.7% in the fourth quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock valued at $26,223,000 after purchasing an additional 345,700 shares during the period. Finally, Schroder Investment Management Group raised its position in Big Lots by 252.0% in the fourth quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock valued at $19,843,000 after purchasing an additional 253,000 shares during the period.

BIG stock opened at $43.06 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.25 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1,809.94, a P/E ratio of 9.68, a PEG ratio of 0.65 and a beta of 1.13. Big Lots has a 12-month low of $42.36 and a 12-month high of $64.42.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.14. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $2.26 EPS. Big Lots’s revenue was up 4.0% on a year-over-year basis. research analysts expect that Big Lots will post 4.88 EPS for the current year.

Big Lots announced that its Board of Directors has authorized a stock buyback program on Friday, March 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were issued a dividend of $0.30 per share. This is an increase from Big Lots’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 22nd. This represents a $1.20 annualized dividend and a yield of 2.79%. Big Lots’s dividend payout ratio is 26.97%.

In other Big Lots news, CEO David J. Campisi sold 20,657 shares of the company’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total transaction of $903,330.61. Following the sale, the chief executive officer now owns 170,560 shares in the company, valued at approximately $7,458,588.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David J. Campisi sold 25,414 shares of the company’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total value of $1,201,828.06. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

BIG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, January 31st. Northcoast Research reiterated a “neutral” rating on shares of Big Lots in a report on Monday, March 12th. Morgan Stanley set a $64.00 price objective on Big Lots and gave the company a “buy” rating in a report on Monday, March 12th. KeyCorp reiterated an “overweight” rating and issued a $58.00 price objective (down previously from $63.00) on shares of Big Lots in a report on Monday, March 12th. Finally, ValuEngine downgraded Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, March 22nd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Big Lots has a consensus rating of “Hold” and a consensus price target of $58.83.

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About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.

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Institutional Ownership by Quarter for Big Lots (NYSE:BIG)

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