Big Lots, Inc. (NYSE:BIG – Get Rating) announced a quarterly dividend on Friday, May 27th, RTT News reports. Investors of record on Friday, June 10th will be given a dividend of 0.30 per share on Friday, June 24th. This represents a $1.20 annualized dividend and a yield of 4.45%. The ex-dividend date is Thursday, June 9th.
Big Lots has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Big Lots to earn $5.05 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 23.8%.
Shares of NYSE:BIG opened at $26.94 on Friday. The company has a market capitalization of $769.41 million, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.52 and a beta of 2.12. The stock has a fifty day moving average of $33.92 and a 200-day moving average of $38.96. Big Lots has a one year low of $24.87 and a one year high of $73.23.
Several equities research analysts recently commented on BIG shares. StockNews.com started coverage on shares of Big Lots in a research report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. lowered their price target on Big Lots from $31.00 to $25.00 in a report on Tuesday, May 10th. Telsey Advisory Group decreased their price objective on Big Lots from $50.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, May 24th. Loop Capital dropped their target price on Big Lots from $44.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, March 4th. Finally, TheStreet cut shares of Big Lots from a “b-” rating to a “c+” rating in a report on Thursday, February 3rd. Four analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.56.
In related news, EVP Nicholas E. Padovano sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $35.39, for a total value of $46,007.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas E. Padovano sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $38.39, for a total value of $34,551.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,000 shares of company stock worth $349,918. 2.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE grew its position in shares of Big Lots by 32.5% in the first quarter. US Bancorp DE now owns 2,053 shares of the company’s stock valued at $71,000 after purchasing an additional 503 shares during the last quarter. Captrust Financial Advisors increased its position in Big Lots by 22.8% in the 1st quarter. Captrust Financial Advisors now owns 5,171 shares of the company’s stock worth $180,000 after buying an additional 960 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Big Lots by 8.0% during the first quarter. Cetera Advisor Networks LLC now owns 6,633 shares of the company’s stock worth $230,000 after buying an additional 489 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Big Lots by 23.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,454 shares of the company’s stock valued at $291,000 after acquiring an additional 1,216 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Big Lots by 21.5% in the third quarter. Royal Bank of Canada now owns 6,834 shares of the company’s stock worth $295,000 after acquiring an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.
Big Lots Company Profile (Get Rating)
Big Lots, Inc, through its subsidiaries, operates as a home discount retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattresses, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, 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, specialty foods, and pet departments.
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