Point72 Asia Hong Kong Ltd acquired a new position in shares of Big Lots, Inc. (NYSE:BIG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,099 shares of the company’s stock, valued at approximately $135,000.
Other institutional investors also recently made changes to their positions in the company. We Are One Seven LLC purchased a new stake in Big Lots in the fourth quarter valued at $110,000. Pitcairn Co. purchased a new stake in Big Lots in the fourth quarter valued at $200,000. Baird Financial Group Inc. purchased a new stake in Big Lots in the fourth quarter valued at $214,000. Itau Unibanco Holding S.A. raised its position in Big Lots by 100.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 3,872 shares of the company’s stock valued at $217,000 after purchasing an additional 1,940 shares during the period. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Big Lots in the fourth quarter valued at $239,000.
In related news, CEO David J. Campisi sold 20,657 shares of the business’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $43.73, for a total transaction of $903,330.61. Following the completion of the transaction, the chief executive officer now directly owns 170,560 shares of the company’s stock, valued at approximately $7,458,588.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.
BIG has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Big Lots from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. Citigroup reduced their target price on Big Lots to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, June 5th. Raymond James restated an “outperform” rating and issued a $60.00 target price on shares of Big Lots in a research report on Monday, April 16th. Northcoast Research restated a “neutral” rating on shares of Big Lots in a research report on Monday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on Big Lots from $55.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $53.00.
Shares of BIG stock traded up $0.53 on Monday, hitting $41.76. The stock had a trading volume of 65,606 shares, compared to its average volume of 2,230,480. The company has a current ratio of 1.65, a quick ratio of 0.32 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.66 billion, a PE ratio of 9.27, a P/E/G ratio of 0.67 and a beta of 1.14. Big Lots, Inc. has a 1 year low of $36.20 and a 1 year high of $64.42.
Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, June 1st. The company reported $0.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.24). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Big Lots had a net margin of 3.23% and a return on equity of 28.85%. Big Lots’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 EPS. research analysts predict that Big Lots, Inc. will post 4.57 EPS for the current fiscal year.
Big Lots declared that its board has approved a stock buyback program on Friday, March 9th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.87%. Big Lots’s dividend payout ratio is presently 26.97%.
Big Lots Company Profile
Big Lots, Inc, through its subsidiaries, operates as a community retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises Christmas trim, lawn and garden, summer, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.
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