Stevens Capital Management LP Has $4.80 Million Stake in Big Lots, Inc. (BIG)
Stevens Capital Management LP lifted its stake in Big Lots, Inc. (NYSE:BIG) by 33.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,369 shares of the company’s stock after buying an additional 25,125 shares during the period. Stevens Capital Management LP owned approximately 0.22% of Big Lots worth $4,800,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings 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. increased its holdings 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 increased its holdings 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 increased its holdings 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 increased its holdings in shares of Big Lots by 0.8% in the first quarter. State Street Corp now owns 1,611,995 shares of the company’s stock worth $78,474,000 after buying an additional 12,308 shares during the period.
Big Lots, Inc. (BIG) opened at 49.05 on Tuesday. The stock has a market cap of $2.08 billion, a P/E ratio of 12.71 and a beta of 0.92. The firm’s 50 day moving average price is $49.43 and its 200-day moving average price is $48.97. Big Lots, Inc. has a 12-month low of $42.40 and a 12-month high of $56.54.
Big Lots (NYSE:BIG) last announced its quarterly earnings data on Friday, August 25th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. Equities research analysts anticipate that Big Lots, Inc. will post $4.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 7th. Big Lots’s payout ratio is currently 26.04%.
Several research firms have recently commented on BIG. Oppenheimer Holdings, Inc. set a $60.00 price objective on Big Lots and gave the stock a “buy” rating in a report on Saturday, May 27th. BidaskClub upgraded Big Lots from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday. Loop Capital restated a “buy” rating and set a $64.00 price target on shares of Big Lots in a report on Tuesday, May 30th. Finally, Deutsche Bank AG upgraded Big Lots from a “hold” rating to a “buy” rating and boosted their price target for the company from $55.00 to $56.00 in a report on Tuesday, July 25th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Big Lots currently has a consensus rating of “Buy” and an average price target of $57.50.
In other news, CEO David J. Campisi sold 28,875 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total transaction of $1,444,905.00. Following the transaction, the chief executive officer now directly owns 225,018 shares of the company’s stock, valued at $11,259,900.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Russell Solt sold 2,100 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,041 shares in the company, valued at $517,111.50. The disclosure for this sale can be found here. In the last three months, insiders sold 73,577 shares of company stock valued at $3,717,951. 1.70% of the stock is owned by insiders.
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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