BIG has been the topic of a number of other reports. Northcoast Research reaffirmed a neutral rating on shares of Big Lots in a research report on Monday, March 12th. Loop Capital lowered their price target on shares of 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 shares of Big Lots from a hold rating to a buy rating and set a $69.00 price target on the stock in a research report on Wednesday, January 31st. UBS downgraded shares of Big Lots from an outperform rating to a market perform rating in a research note on Wednesday, January 10th. Finally, KeyCorp reiterated an overweight rating and set a $58.00 price objective (down from $63.00) on shares of Big Lots in a research note on Monday, March 12th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $58.25.
NYSE:BIG opened at $42.79 on Friday. Big Lots has a 52 week low of $41.04 and a 52 week high of $64.42. The stock has a market cap of $1,766.22, a P/E ratio of 9.62, a price-to-earnings-growth 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 announced that its board has authorized a share repurchase plan on Friday, March 9th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 6th. Shareholders of record on Friday, March 23rd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.80%. This is an increase from Big Lots’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 22nd. Big Lots’s dividend payout ratio is presently 26.97%.
In other news, CEO David J. Campisi sold 25,414 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $47.29, for a total value of $1,201,828.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David J. Campisi sold 20,657 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $43.73, for a total transaction of $903,330.61. Following the completion of the sale, the chief executive officer now owns 170,560 shares in the company, valued at $7,458,588.80. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of BIG. Sei Investments Co. boosted its stake 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 valued at $25,515,000 after purchasing an additional 625,395 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Big Lots in the 4th quarter valued at approximately $25,598,000. J. Goldman & Co LP acquired a new stake in shares of Big Lots in the 4th quarter valued at approximately $21,077,000. APG Asset Management N.V. boosted its stake 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 valued at $26,223,000 after purchasing an additional 345,700 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Big Lots by 252.0% in the 4th quarter. Schroder Investment Management Group now owns 353,400 shares of the company’s stock valued at $19,843,000 after purchasing an additional 253,000 shares in the last quarter.
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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.
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