Engineers Gate Manager LP bought a new stake in Big Lots, Inc. (NYSE:BIG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,309 shares of the company’s stock, valued at approximately $643,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIG. Capstone Asset Management Co. lifted its position in shares of Big Lots by 7.5% in the first quarter. Capstone Asset Management Co. now owns 6,169 shares of the company’s stock valued at $300,000 after acquiring an additional 430 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Big Lots by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,531 shares of the company’s stock valued at $756,000 after acquiring an additional 200 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Big Lots by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 27,106 shares of the company’s stock valued at $1,319,000 after acquiring an additional 829 shares in the last quarter. State Treasurer State of Michigan lifted its position in shares of Big Lots by 1.1% in the first quarter. State Treasurer State of Michigan now owns 18,100 shares of the company’s stock valued at $881,000 after acquiring an additional 200 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Big Lots by 0.8% in the first quarter. First Trust Advisors LP now owns 58,275 shares of the company’s stock valued at $2,837,000 after acquiring an additional 435 shares in the last quarter.
BIG has been the topic of several research reports. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. set a $60.00 target price on Big Lots and gave the company a “buy” rating in a research report on Saturday, May 27th. Loop Capital restated a “buy” rating and issued a $64.00 target price on shares of Big Lots in a research report on Tuesday, May 30th. ValuEngine downgraded Big Lots from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. restated a “buy” rating and issued a $62.00 target price (up previously from $61.00) on shares of Big Lots in a research report on Friday, June 9th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.50.
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Shares of Big Lots, Inc. (NYSE BIG) opened at 50.02 on Friday. Big Lots, Inc. has a 1-year low of $42.40 and a 1-year high of $56.54. The firm has a market cap of $2.12 billion, a PE ratio of 12.97 and a beta of 0.92. The firm’s 50-day moving average price is $49.47 and its 200 day moving average price is $49.03.
Big Lots (NYSE:BIG) last posted its earnings results 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Big Lots’s revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Big Lots, Inc. will post $4.24 EPS for the current fiscal year.
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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 7th. Big Lots’s payout ratio is currently 26.04%.
In other Big Lots news, Director Russell Solt sold 2,100 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $51.50, for a total transaction of $108,150.00. Following the transaction, the director now owns 10,041 shares of the company’s stock, valued at approximately $517,111.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Allen Schlonsky sold 2,602 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $48.00, for a total value of $124,896.00. Following the transaction, the insider now directly owns 34,706 shares in the company, valued at approximately $1,665,888. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,577 shares of company stock worth $3,717,951. 1.70% of the stock is owned by corporate insiders.
Big Lots 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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