BidaskClub upgraded shares of Big Lots, Inc. (NYSE:BIG) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
BIG has been the topic of several other research reports. Zacks Investment Research upgraded Big Lots from a hold rating to a buy rating and set a $56.00 price target on the stock in a research note on Monday, May 8th. Raymond James Financial, Inc. upgraded Big Lots from a market perform rating to a strong-buy rating and set a $60.00 price target on the stock in a research note on Wednesday, April 26th. Citigroup Inc. restated a buy rating and set a $62.00 price target (up previously from $61.00) on shares of Big Lots in a research note on Friday, June 9th. Loop Capital restated a buy rating and set a $64.00 price target on shares of Big Lots in a research note on Monday, March 6th. Finally, ValuEngine lowered Big Lots from a buy rating to a hold rating in a research note on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $57.09.
Shares of Big Lots (NYSE BIG) opened at 46.61 on Tuesday. Big Lots has a one year low of $42.40 and a one year high of $56.54. The stock’s 50 day moving average is $48.26 and its 200-day moving average is $49.92. The company has a market cap of $2.06 billion, a PE ratio of 12.66 and a beta of 0.85.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.99 by $0.16. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share. Equities research analysts expect that Big Lots will post $4.20 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, June 7th. Big Lots’s payout ratio is currently 27.25%.
In other Big Lots news, insider Michael Allen Schlonsky sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $49.98, for a total value of $749,700.00. Following the completion of the sale, the insider now owns 52,104 shares of the company’s stock, valued at $2,604,157.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lisa M. Bachmann sold 9,538 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $51.09, for a total value of $487,296.42. Following the completion of the sale, the insider now directly owns 45,920 shares of the company’s stock, valued at approximately $2,346,052.80. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of BIG. Foundry Partners LLC increased its stake in shares of Big Lots by 13.6% in the first quarter. Foundry Partners LLC now owns 134,593 shares of the company’s stock valued at $6,552,000 after buying an additional 16,125 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Big Lots by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 75,060 shares of the company’s stock valued at $3,769,000 after buying an additional 2,052 shares in the last quarter. Westport Asset Management Inc. acquired a new stake in shares of Big Lots during the fourth quarter valued at $9,851,000. Norges Bank acquired a new stake in shares of Big Lots during the fourth quarter valued at $31,377,000. Finally, Putnam Investments LLC increased its stake in shares of Big Lots by 1.5% in the fourth quarter. Putnam Investments LLC now owns 10,157 shares of the company’s stock valued at $509,000 after buying an additional 154 shares in the last quarter.
Big Lots Company Profile
Big Lots, Inc is a non-traditional, discount retailer operating in the United States. As of January 28, 2017, the Company operated a total of 1,432 stores. The Company operates through the discount retailing segment. As of January 28, 2017, the Company’s stores are located at various states of the United States, such as Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Michigan, Montana, Nevada, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Texas, Utah and Washington.
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