DekaBank Deutsche Girozentrale bought a new position in Big Lots, Inc. (NYSE:BIG) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,539 shares of the company’s stock, valued at approximately $361,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James & Associates raised its holdings in shares of Big Lots by 2.7% in the 1st quarter. Raymond James & Associates now owns 14,215 shares of the company’s stock worth $540,000 after buying an additional 377 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Big Lots by 6.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,163 shares of the company’s stock worth $207,000 after buying an additional 405 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Big Lots by 2.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 25,928 shares of the company’s stock valued at $696,000 after purchasing an additional 501 shares in the last quarter. Captrust Financial Advisors increased its holdings in Big Lots by 263.0% during the 4th quarter. Captrust Financial Advisors now owns 933 shares of the company’s stock valued at $27,000 after purchasing an additional 676 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Big Lots by 1.3% during the 4th quarter. Legal & General Group Plc now owns 58,129 shares of the company’s stock valued at $1,681,000 after purchasing an additional 755 shares in the last quarter.
A number of equities research analysts recently weighed in on BIG shares. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Wednesday, May 1st. ValuEngine raised Big Lots from a “strong sell” rating to a “sell” rating in a report on Monday, March 25th. KeyCorp dropped their price target on Big Lots from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. Bank of America raised their price target on Big Lots from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Deutsche Bank cut Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.47.
In other news, EVP Michael Allen Schlonsky sold 5,000 shares of Big Lots stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $38.99, for a total value of $194,950.00. Following the completion of the sale, the executive vice president now directly owns 67,296 shares of the company’s stock, valued at approximately $2,623,871.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas E. Padovano sold 4,734 shares of Big Lots stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total value of $180,791.46. Following the completion of the sale, the insider now directly owns 10,776 shares of the company’s stock, valued at $411,535.44. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
BIG stock opened at $29.16 on Friday. Big Lots, Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $50.35. The firm has a market cap of $1.15 billion, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The company has a quick ratio of 0.17, a current ratio of 1.25 and a debt-to-equity ratio of 2.21.
Big Lots (NYSE:BIG) last released its earnings results on Friday, May 31st. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Big Lots had a return on equity of 25.61% and a net margin of 2.68%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. As a group, equities research analysts expect that Big Lots, Inc. will post 3.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.12%. Big Lots’s dividend payout ratio (DPR) is currently 29.70%.
Big Lots announced that its board has approved a stock buyback plan on Friday, March 8th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
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About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a 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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