TheStreet lowered shares of Big Lots (NYSE:BIG) from a b- rating to a c+ rating in a research report sent to investors on Friday morning.
Several other analysts also recently weighed in on the company. Raymond James Financial restated an outperform rating and issued a $60.00 price target on shares of Big Lots in a research note on Monday. UBS downgraded Big Lots from a strong-buy rating to an outperform rating in a research note on Monday. ValuEngine cut Big Lots from a buy rating to a hold rating in a research report on Thursday, March 22nd. Barclays reaffirmed a hold rating and issued a $50.00 price objective on shares of Big Lots in a research report on Thursday, March 15th. Finally, Northcoast Research reaffirmed a neutral rating on shares of Big Lots in a research report on Monday, March 12th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $58.25.
BIG stock opened at $42.79 on Friday. Big Lots has a fifty-two week low of $41.04 and a fifty-two week high of $64.42. 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 company has a market cap of $1,766.22, a price-to-earnings ratio of 9.62, a PEG ratio of 0.64 and a beta of 1.13.
Big Lots (NYSE:BIG) last posted its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.14. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 EPS. analysts expect that Big Lots will post 4.88 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Friday, March 23rd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.80%. This is a boost from Big Lots’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 22nd. Big Lots’s dividend payout ratio is presently 26.97%.
Big Lots declared that its board has authorized a stock repurchase plan on Friday, March 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CEO David J. Campisi sold 25,414 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total transaction of $1,201,828.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David J. Campisi sold 20,657 shares of the stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total value of $903,330.61. Following the transaction, the chief executive officer now directly owns 170,560 shares in the company, valued at $7,458,588.80. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIG. Sei Investments Co. lifted its holdings in shares of Big Lots by 488.2% during the 4th quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock valued at $25,515,000 after buying an additional 625,395 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Big Lots during the 4th quarter valued at $25,598,000. J. Goldman & Co LP bought a new position in shares of Big Lots during the 4th quarter valued at $21,077,000. APG Asset Management N.V. lifted its holdings in shares of Big Lots by 160.7% during the 4th quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock valued at $26,223,000 after buying an additional 345,700 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of Big Lots by 252.0% during the 4th quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock valued at $19,843,000 after buying an additional 253,000 shares during the period.
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Big Lots Company Profile
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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