A number of other research analysts also recently commented on BIG. BidaskClub raised shares of Big Lots from a hold rating to a buy rating in a research report on Wednesday, August 9th. ValuEngine raised shares of Big Lots from a hold rating to a buy rating in a research report on Friday, September 15th. Zacks Investment Research raised shares of Big Lots from a hold rating to a buy rating and set a $55.00 price objective for the company in a research report on Friday, September 15th. Loop Capital reissued a buy rating and issued a $64.00 price objective on shares of Big Lots in a research report on Tuesday, May 30th. Finally, Piper Jaffray Companies reissued a hold rating and issued a $52.00 price objective on shares of Big Lots in a research report on Friday, September 1st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $57.50.
Big Lots (NYSE:BIG) last released its earnings results on Friday, August 25th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, September 7th. Big Lots’s payout ratio is 26.04%.
In related news, CEO David J. Campisi sold 28,875 shares of Big Lots stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the completion of the sale, the chief executive officer now owns 225,018 shares of the company’s stock, valued at approximately $11,259,900.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Russell Solt sold 2,100 shares of Big Lots stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $51.50, for a total transaction of $108,150.00. Following the sale, the director now directly owns 10,041 shares of the company’s stock, valued at approximately $517,111.50. The disclosure for this sale can be found here. Insiders have sold a total of 73,577 shares of company stock valued at $3,717,951 in the last ninety days. 1.70% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its holdings in shares of Big Lots by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,834 shares of the company’s stock worth $475,000 after buying an additional 25 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Big Lots by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,536 shares of the company’s stock worth $316,000 after purchasing an additional 27 shares in the last quarter. Somerset Trust Co raised its stake in Big Lots by 0.5% in the 2nd quarter. Somerset Trust Co now owns 11,008 shares of the company’s stock worth $531,000 after purchasing an additional 54 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Big Lots by 1.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,945 shares of the company’s stock worth $191,000 after purchasing an additional 68 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in Big Lots by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 27,722 shares of the company’s stock worth $1,339,000 after purchasing an additional 109 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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