Big Lots, Inc. (NYSE:BIG)’s share price was down 0.5% on Friday . The company traded as low as $28.89 and last traded at $29.01. Approximately 612,647 shares changed hands during trading, a decline of 63% from the average daily volume of 1,658,689 shares. The stock had previously closed at $29.16.
A number of equities analysts have recently weighed in on BIG shares. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, May 1st. ValuEngine upgraded Big Lots from a “strong sell” rating to a “sell” rating in a research note on Monday, March 25th. KeyCorp lowered their target price on Big Lots from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, June 3rd. Bank of America raised their price objective on Big Lots from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Deutsche Bank lowered Big Lots from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Two investment 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 stock presently has a consensus rating of “Hold” and an average target price of $33.47.
The company has a quick ratio of 0.17, a current ratio of 1.25 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $1.16 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44.
Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, May 31st. The company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. Big Lots had a return on equity of 25.61% and a net margin of 2.68%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the company earned $0.95 EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Big Lots, Inc. will post 3.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.20 dividend on an annualized basis and a yield of 4.15%. Big Lots’s dividend payout ratio (DPR) is presently 29.70%.
Big Lots declared that its board has approved a share buyback program on Friday, March 8th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.6% 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.
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 transaction, the executive vice president now owns 67,296 shares in the company, valued at approximately $2,623,871.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the insider now owns 10,776 shares in the company, valued at approximately $411,535.44. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of BIG. BlackRock Inc. increased its stake in shares of Big Lots by 24.4% in the 1st quarter. BlackRock Inc. now owns 6,030,976 shares of the company’s stock valued at $229,299,000 after purchasing an additional 1,184,717 shares during the last quarter. FMR LLC increased its stake in shares of Big Lots by 178.5% in the 4th quarter. FMR LLC now owns 1,846,371 shares of the company’s stock valued at $53,397,000 after purchasing an additional 1,183,400 shares during the last quarter. Norges Bank bought a new position in shares of Big Lots in the 4th quarter valued at $18,393,000. Millennium Management LLC increased its stake in shares of Big Lots by 2,978.3% in the 4th quarter. Millennium Management LLC now owns 392,574 shares of the company’s stock valued at $11,353,000 after purchasing an additional 379,821 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Big Lots by 15.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,997,770 shares of the company’s stock valued at $75,954,000 after purchasing an additional 262,276 shares during the last quarter.
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Big Lots Company Profile (NYSE:BIG)
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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