Big Lots, Inc. (NYSE:BIG) was the recipient of some unusual options trading on Wednesday. Investors purchased 36,561 put options on the company. This is an increase of 1,004% compared to the typical volume of 3,312 put options.
A number of equities analysts recently issued reports on the company. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Big Lots in a report on Thursday, June 7th. Citigroup lowered their price target on Big Lots to $48.00 and set a “buy” rating for the company in a report on Tuesday, June 5th. JPMorgan Chase & Co. lowered their price target on Big Lots from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, June 4th. Morgan Stanley lowered their price target on Big Lots from $62.00 to $47.00 and set an “overweight” rating for the company in a report on Monday, June 4th. Finally, Telsey Advisory Group lowered their price target on Big Lots from $49.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.00.
BIG stock opened at $41.86 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of 9.41, a PEG ratio of 0.66 and a beta of 1.14. Big Lots has a twelve month low of $36.20 and a twelve month high of $64.42. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.65 and a quick ratio of 0.32.
Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, June 1st. The company reported $0.95 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.24). Big Lots had a net margin of 3.23% and a return on equity of 28.85%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.15 earnings per share. Big Lots’s revenue was down 2.1% compared to the same quarter last year. sell-side analysts predict that Big Lots will post 4.57 EPS for the current year.
Big Lots announced that its board has approved a stock buyback program on Friday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, June 14th. Big Lots’s dividend payout ratio (DPR) is presently 26.97%.
In related news, CEO David J. Campisi sold 20,657 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total value of $903,330.61. Following the completion of the transaction, the chief executive officer now directly owns 170,560 shares of the company’s stock, valued at $7,458,588.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BIG. Millennium Management LLC raised its stake in shares of Big Lots by 174.9% during the first quarter. Millennium Management LLC now owns 841,412 shares of the company’s stock worth $36,627,000 after purchasing an additional 535,371 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Big Lots during the fourth quarter worth approximately $25,598,000. J. Goldman & Co LP purchased a new stake in shares of Big Lots during the fourth quarter worth approximately $21,077,000. JPMorgan Chase & Co. raised its stake in shares of Big Lots by 77.0% during the first quarter. JPMorgan Chase & Co. now owns 770,430 shares of the company’s stock worth $33,536,000 after purchasing an additional 335,105 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Big Lots by 252.0% during the fourth quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock worth $19,843,000 after purchasing an additional 253,000 shares during the last quarter.
Big Lots Company Profile
Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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