Big Lots, Inc. (NYSE:BIG) Position Reduced by Empirical Finance LLC

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Empirical Finance LLC trimmed its holdings in shares of Big Lots, Inc. (NYSE:BIG) by 57.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,808 shares of the company’s stock after selling 22,839 shares during the period. Empirical Finance LLC’s holdings in Big Lots were worth $702,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Big Lots by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,462,131 shares of the company’s stock worth $63,647,000 after purchasing an additional 25,615 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Big Lots by 2.8% during the first quarter. Principal Financial Group Inc. now owns 232,097 shares of the company’s stock worth $10,103,000 after purchasing an additional 6,409 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Big Lots by 544.9% during the first quarter. Baird Financial Group Inc. now owns 24,559 shares of the company’s stock worth $1,069,000 after purchasing an additional 20,751 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Big Lots by 54.7% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,601 shares of the company’s stock worth $374,000 after purchasing an additional 3,041 shares in the last quarter. Finally, Natixis lifted its stake in Big Lots by 506.9% during the first quarter. Natixis now owns 54,965 shares of the company’s stock worth $2,393,000 after purchasing an additional 45,908 shares in the last quarter.

BIG has been the topic of a number of research reports. ValuEngine cut Big Lots from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Goldman Sachs Group started coverage on Big Lots in a research report on Thursday, July 19th. They set a “buy” rating and a $47.00 price objective on the stock. Bank of America started coverage on Big Lots in a research report on Monday, November 5th. They set a “buy” rating and a $56.00 price objective on the stock. Loop Capital upped their price objective on Big Lots from $48.00 to $48.00 and gave the stock a “hold” rating in a research report on Monday, August 27th. Finally, TheStreet raised Big Lots from a “c+” rating to a “b-” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $51.73.

In other Big Lots news, EVP Lisa M. Bachmann sold 7,517 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $48.85, for a total transaction of $367,205.45. Following the transaction, the executive vice president now owns 61,630 shares of the company’s stock, valued at $3,010,625.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa M. Bachmann sold 29,733 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $48.85, for a total value of $1,452,457.05. Following the transaction, the executive vice president now directly owns 61,630 shares in the company, valued at approximately $3,010,625.50. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

NYSE:BIG traded down $2.08 during trading hours on Friday, hitting $42.82. The company’s stock had a trading volume of 990,940 shares, compared to its average volume of 1,080,803. The firm has a market capitalization of $1.75 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.69 and a quick ratio of 0.32. Big Lots, Inc. has a 52-week low of $36.20 and a 52-week high of $64.42.

Big Lots (NYSE:BIG) last posted its earnings results on Friday, August 31st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.08). The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Big Lots had a net margin of 3.14% and a return on equity of 27.83%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. As a group, equities analysts anticipate that Big Lots, Inc. will post 4.46 EPS for the current year.

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About Big Lots

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 d├ęcor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

Further Reading: What is a conference call?

Institutional Ownership by Quarter for Big Lots (NYSE:BIG)

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