ValuEngine upgraded shares of Big Lots, Inc. (NYSE:BIG) from a hold rating to a buy rating in a report published on Friday.
Other analysts have also issued reports about the company. Zacks Investment Research upgraded Big Lots from a hold rating to a buy rating and set a $56.00 price objective on the stock in a research note on Friday, July 28th. Deutsche Bank AG upgraded Big Lots from a hold rating to a buy rating and boosted their price objective for the company from $55.00 to $56.00 in a research note on Tuesday, July 25th. Citigroup Inc. reiterated a buy rating and set a $62.00 price objective (up from $61.00) on shares of Big Lots in a research note on Friday, June 9th. Loop Capital reiterated a buy rating and set a $64.00 price objective on shares of Big Lots in a research note on Tuesday, May 30th. Finally, Oppenheimer Holdings, Inc. set a $60.00 price objective on Big Lots and gave the company a buy rating in a research note on Saturday, May 27th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Big Lots presently has an average rating of Buy and an average target price of $57.50.
Big Lots (NYSE:BIG) opened at 49.05 on Friday. The company has a 50 day moving average price of $49.43 and a 200-day moving average price of $48.97. Big Lots has a 12 month low of $42.40 and a 12 month high of $56.54. The company has a market cap of $2.08 billion, a PE ratio of 12.71 and a beta of 0.92.
Big Lots (NYSE:BIG) last released its quarterly earnings data on Friday, August 25th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. Big Lots had a return on equity of 30.32% and a net margin of 3.31%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts predict that Big Lots will post $4.24 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.04%. Big Lots’s dividend payout ratio is currently 26.04%.
In other news, insider Lisa M. Bachmann sold 40,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $51.00, for a total value of $2,040,000.00. Following the completion of the transaction, the insider now directly owns 48,089 shares in the company, valued at approximately $2,452,539. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Allen Schlonsky sold 2,602 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $48.00, for a total value of $124,896.00. Following the completion of the transaction, the insider now owns 34,706 shares of the company’s stock, valued at $1,665,888. The disclosure for this sale can be found here. Insiders sold a total of 73,577 shares of company stock worth $3,717,951 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Big Lots by 3,846.5% in the 1st quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock worth $296,996,000 after purchasing an additional 5,946,417 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Big Lots by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock worth $266,480,000 after purchasing an additional 368,464 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Big Lots by 8.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,363,889 shares of the company’s stock worth $114,175,000 after purchasing an additional 175,972 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Big Lots by 1.5% in the 2nd quarter. LSV Asset Management now owns 2,240,023 shares of the company’s stock worth $108,193,000 after purchasing an additional 32,600 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Big Lots by 1.8% in the 2nd quarter. State Street Corp now owns 1,640,504 shares of the company’s stock worth $79,233,000 after purchasing an additional 28,509 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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