Big Lots (NYSE:BIG) Price Target Cut to $45.00

Big Lots (NYSE:BIG) had its price target cut by Deutsche Bank Aktiengesellschaft from $48.00 to $45.00 in a research note published on Wednesday, The Fly reports. They currently have a hold rating on the stock.

BIG has been the subject of several other reports. Barclays reduced their target price on Big Lots from $45.00 to $40.00 and set an underweight rating for the company in a research report on Wednesday. The Goldman Sachs Group cut Big Lots from a neutral rating to a sell rating and reduced their target price for the stock from $58.00 to $43.00 in a research report on Tuesday, December 14th. Zacks Investment Research cut Big Lots from a hold rating to a strong sell rating and set a $42.00 target price for the company. in a research report on Wednesday, January 5th. Piper Sandler cut Big Lots from an overweight rating to a neutral rating and cut their price objective for the stock from $60.00 to $50.00 in a report on Tuesday, September 21st. Finally, Telsey Advisory Group cut their price objective on Big Lots from $55.00 to $53.00 and set a market perform rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $46.22.

NYSE:BIG opened at $43.41 on Wednesday. Big Lots has a 52-week low of $40.06 and a 52-week high of $73.23. The business’s fifty day moving average is $45.38 and its 200 day moving average is $50.11. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 0.65 and a beta of 2.20.

Big Lots (NYSE:BIG) last posted its earnings results on Friday, December 3rd. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.02. Big Lots had a return on equity of 19.03% and a net margin of 3.67%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts predict that Big Lots will post 5.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 29th. Investors of record on Wednesday, December 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Tuesday, December 14th. Big Lots’s dividend payout ratio is presently 19.48%.

Big Lots announced that its Board of Directors has authorized a stock repurchase plan on Friday, December 3rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 17.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently modified their holdings of BIG. Envestnet Asset Management Inc. boosted its holdings in Big Lots by 45.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,783 shares of the company’s stock valued at $580,000 after acquiring an additional 2,762 shares during the period. Teacher Retirement System of Texas boosted its holdings in Big Lots by 17.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,118 shares of the company’s stock valued at $338,000 after acquiring an additional 768 shares during the period. WINTON GROUP Ltd boosted its holdings in Big Lots by 4.6% during the 2nd quarter. WINTON GROUP Ltd now owns 15,685 shares of the company’s stock valued at $1,035,000 after acquiring an additional 690 shares during the period. Rafferty Asset Management LLC boosted its holdings in Big Lots by 38.8% during the 2nd quarter. Rafferty Asset Management LLC now owns 14,708 shares of the company’s stock valued at $971,000 after acquiring an additional 4,109 shares during the period. Finally, Citigroup Inc. raised its position in Big Lots by 4.1% during the 2nd quarter. Citigroup Inc. now owns 41,960 shares of the company’s stock valued at $2,770,000 after purchasing an additional 1,657 shares during the last quarter. Institutional investors own 98.83% of the company’s stock.

Big Lots Company Profile

Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment which includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.

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