Loop Capital Reiterates $64.00 Price Target for Big Lots, Inc. (BIG)
A number of other equities research analysts have also recently commented on the company. BidaskClub cut Big Lots from a hold rating to a sell rating in a research note on Thursday, June 22nd. Citigroup Inc. reaffirmed a buy rating and set a $62.00 price objective (up from $61.00) on shares of Big Lots in a research note on Friday, June 9th. Deutsche Bank AG raised Big Lots from a hold rating to a buy rating and lifted their price objective for the stock from $55.00 to $56.00 in a research note on Tuesday, July 25th. Zacks Investment Research raised Big Lots from a hold rating to a buy rating and set a $52.00 price objective for the company in a research note on Tuesday, July 11th. Finally, ValuEngine cut Big Lots from a buy rating to a hold rating in a research note on Friday, June 2nd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $57.67.
Big Lots (NYSE BIG) opened at 47.79 on Wednesday. The company has a 50 day moving average price of $49.48 and a 200-day moving average price of $49.28. Big Lots has a 52-week low of $42.40 and a 52-week high of $56.54. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 12.39 and a beta of 0.93.
Big Lots (NYSE:BIG) last announced its quarterly earnings data on Friday, August 25th. The company reported $0.67 EPS for the quarter, topping 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Big Lots will post $4.24 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.09%. Big Lots’s dividend payout ratio (DPR) is 26.04%.
In other news, CEO David J. Campisi sold 28,875 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $50.04, for a total value of $1,444,905.00. Following the sale, the chief executive officer now directly owns 225,018 shares in the company, valued at $11,259,900.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael Allen Schlonsky sold 2,602 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $48.00, for a total value of $124,896.00. Following the completion of the sale, the insider now owns 34,706 shares in the company, valued at $1,665,888. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,577 shares of company stock worth $3,717,951. Corporate insiders own 1.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Big Lots by 3,846.5% in the first quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock worth $296,996,000 after buying an additional 5,946,417 shares during the period. Vanguard Group Inc. raised its stake in shares of Big Lots by 7.2% in the first quarter. Vanguard Group Inc. now owns 5,474,133 shares of the company’s stock worth $266,480,000 after buying an additional 368,464 shares during the period. Wells Fargo & Company MN raised its stake in shares of Big Lots by 8.0% in the second quarter. Wells Fargo & Company MN now owns 2,363,889 shares of the company’s stock worth $114,175,000 after buying an additional 175,972 shares during the period. LSV Asset Management raised its stake in shares of Big Lots by 1.5% in the second quarter. LSV Asset Management now owns 2,240,023 shares of the company’s stock worth $108,193,000 after buying an additional 32,600 shares during the period. Finally, State Street Corp raised its stake in shares of Big Lots by 1.8% in the second quarter. State Street Corp now owns 1,640,504 shares of the company’s stock worth $79,233,000 after buying an additional 28,509 shares during the period.
About Big Lots
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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