Big Lots (BIG) Downgraded to Outperform at UBS

UBS lowered shares of Big Lots (NYSE:BIG) from a strong-buy rating to an outperform rating in a research report report published on Monday morning, The Fly reports.

BIG has been the topic of several other research reports. Northcoast Research reissued a neutral rating on shares of Big Lots in a research report on Monday, March 12th. Loop Capital cut their target price on Big Lots from $70.00 to $60.00 and set a buy rating on the stock in a research report on Monday, March 12th. Zacks Investment Research raised Big Lots from a hold rating to a buy rating and set a $69.00 target price on the stock in a research report on Wednesday, January 31st. KeyCorp reissued an overweight rating and set a $58.00 target price (down previously from $63.00) on shares of Big Lots in a research report on Monday, March 12th. Finally, Oppenheimer reissued a market perform rating on shares of Big Lots in a research report on Wednesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Big Lots has an average rating of Buy and an average price target of $58.25.

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NYSE BIG opened at $42.79 on Monday. The company has a market cap of $1,766.22, a PE ratio of 9.44, a P/E/G ratio of 0.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.25 and a current ratio of 1.73. Big Lots has a fifty-two week low of $41.04 and a fifty-two week high of $64.42.

Big Lots (NYSE:BIG) last released its earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.14. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 EPS. equities analysts expect that Big Lots will post 4.88 earnings per share for the current year.

Big Lots declared that its board has initiated a share buyback plan on Friday, March 9th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Friday, March 23rd were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, March 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.80%. This is a boost from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s payout ratio is presently 26.97%.

In other Big Lots news, CEO David J. Campisi sold 25,414 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total value of $1,201,828.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Campisi sold 20,657 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total value of $903,330.61. Following the completion of the sale, the chief executive officer now owns 170,560 shares of the company’s stock, valued at $7,458,588.80. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in shares of Big Lots by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,649,320 shares of the company’s stock worth $148,760,000 after buying an additional 187,228 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Big Lots by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,840 shares of the company’s stock worth $78,150,000 after buying an additional 4,634 shares during the period. Snow Capital Management LP lifted its holdings in shares of Big Lots by 3.5% in the 4th quarter. Snow Capital Management LP now owns 1,234,456 shares of the company’s stock worth $69,315,000 after buying an additional 42,188 shares during the period. Sei Investments Co. lifted its holdings in shares of Big Lots by 488.2% in the 4th quarter. Sei Investments Co. now owns 753,487 shares of the company’s stock worth $25,515,000 after buying an additional 625,395 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in shares of Big Lots by 160.7% in the 4th quarter. APG Asset Management N.V. now owns 560,800 shares of the company’s stock worth $26,223,000 after buying an additional 345,700 shares during the period.

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Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a non-traditional, discount retailer in the United States. The company offers products under various merchandising categories, such as food category that includes beverage and grocery, candy and snacks, and specialty foods departments; consumables category, which comprises health and beauty, plastics, paper, chemical, and pet departments; soft home category that consists of home décor, frames, fashion bedding, utility bedding, bath, window, decorative textile, and area rugs departments; hard home category, including small appliances, table top, food preparation, stationery, greeting cards, and home maintenance departments; and furniture category consisting of upholstery, mattress, ready-to-assemble, and case goods departments.

The Fly

Analyst Recommendations for Big Lots (NYSE:BIG)

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