US Bancorp DE boosted its stake in Big Lots, Inc. (NYSE:BIG) by 37.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,011 shares of the company’s stock after buying an additional 2,174 shares during the quarter. US Bancorp DE’s holdings in Big Lots were worth $335,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kessler Investment Group LLC purchased a new stake in shares of Big Lots during the 2nd quarter valued at $129,000. Point72 Asia Hong Kong Ltd purchased a new stake in Big Lots in the 1st quarter worth about $135,000. Pitcairn Co. increased its holdings in Big Lots by 45.6% in the 1st quarter. Pitcairn Co. now owns 5,187 shares of the company’s stock worth $226,000 after acquiring an additional 1,624 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Big Lots in the 1st quarter worth about $244,000. Finally, Sciencast Management LP purchased a new stake in Big Lots in the 1st quarter worth about $256,000.
Several equities research analysts recently weighed in on BIG shares. JPMorgan Chase & Co. decreased their price objective on Big Lots from $55.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, May 22nd. Deutsche Bank decreased their price objective on Big Lots from $64.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, May 24th. Deutsche Bank decreased their price objective on Big Lots from $64.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, May 24th. Zacks Investment Research raised Big Lots from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Finally, ValuEngine lowered Big Lots from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.47.
Shares of NYSE BIG opened at $41.59 on Monday. Big Lots, Inc. has a 52 week low of $36.20 and a 52 week high of $64.42. The company has a quick ratio of 0.32, a current ratio of 1.69 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.79 and a beta of 1.02.
Big Lots (NYSE:BIG) last issued its earnings results on Friday, August 31st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.08). Big Lots had a return on equity of 27.83% and a net margin of 3.14%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. equities analysts forecast that Big Lots, Inc. will post 4.45 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.89%. Big Lots’s dividend payout ratio is currently 26.97%.
In other Big Lots news, EVP Michael Allen Schlonsky sold 6,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $45.00, for a total value of $270,000.00. Following the completion of the transaction, the executive vice president now owns 34,315 shares in the company, valued at approximately $1,544,175. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ronald A. Robins, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the transaction, the senior vice president now owns 14,545 shares of the company’s stock, valued at approximately $669,070. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,250 shares of company stock valued at $2,319,663. 1.30% of the stock is owned by corporate insiders.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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