Verition Fund Management LLC Invests $252,000 in Big Lots, Inc. (NYSE:BIG)
Verition Fund Management LLC purchased a new position in shares of Big Lots, Inc. (NYSE:BIG) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 5,995 shares of the company’s stock, valued at approximately $252,000.
Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Big Lots by 4.4% during the 2nd quarter. First Trust Advisors LP now owns 100,145 shares of the company’s stock worth $4,206,000 after acquiring an additional 4,252 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Big Lots by 3.5% during the 1st quarter. New York State Common Retirement Fund now owns 263,782 shares of the company’s stock worth $3,751,000 after acquiring an additional 9,000 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Big Lots during the 2nd quarter worth approximately $661,000. Tower Research Capital LLC TRC boosted its stake in shares of Big Lots by 9,773.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 19,352 shares of the company’s stock worth $275,000 after acquiring an additional 19,156 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Big Lots during the 1st quarter worth approximately $142,000.
BIG has been the topic of several research analyst reports. Cfra boosted their price target on Big Lots from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. TheStreet raised Big Lots from a “c+” rating to a “b-” rating in a research note on Monday, August 31st. Loop Capital upped their target price on Big Lots from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Deutsche Bank upped their target price on Big Lots from $42.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, August 31st. Finally, Zacks Investment Research lowered Big Lots from a “strong-buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research note on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $44.25.
NYSE:BIG opened at $47.74 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.58 and a quick ratio of 0.91. The firm has a 50-day moving average of $46.92 and a two-hundred day moving average of $32.27. The stock has a market cap of $1.86 billion, a P/E ratio of 2.62, a PEG ratio of 0.98 and a beta of 2.52. Big Lots, Inc. has a 1-year low of $10.13 and a 1-year high of $57.24.
Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, August 28th. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.05. Big Lots had a net margin of 12.32% and a return on equity of 25.78%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, equities analysts expect that Big Lots, Inc. will post 6.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.51%. Big Lots’s payout ratio is 32.70%.
Big Lots Company Profile
Big Lots, Inc, through its subsidiaries, operates as a 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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