Cambridge Investment Research Advisors Inc. bought a new stake in Big Lots, Inc. (NYSE:BIG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,620 shares of the company’s stock, valued at approximately $706,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paloma Partners Management Co increased its holdings in shares of Big Lots by 44.6% in the first quarter. Paloma Partners Management Co now owns 33,287 shares of the company’s stock valued at $1,621,000 after purchasing an additional 10,269 shares during the last quarter. State Street Corp increased its stake in Big Lots by 0.8% during the first quarter. State Street Corp now owns 1,611,995 shares of the company’s stock worth $78,474,000 after acquiring an additional 12,308 shares during the last quarter. BlackRock Inc. increased its stake in Big Lots by 3,846.5% during the first quarter. BlackRock Inc. now owns 6,101,011 shares of the company’s stock worth $296,996,000 after acquiring an additional 5,946,417 shares during the last quarter. Capital One National Association increased its stake in Big Lots by 5.3% during the second quarter. Capital One National Association now owns 43,119 shares of the company’s stock worth $2,083,000 after acquiring an additional 2,159 shares during the last quarter. Finally, Lucus Advisors LLC acquired a new stake in Big Lots during the first quarter worth $406,000.
Several research firms have issued reports on BIG. Oppenheimer Holdings, Inc. set a $60.00 target price on Big Lots and gave the stock a “buy” rating in a research note on Saturday, May 27th. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 17th. BidaskClub raised Big Lots from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. ValuEngine cut Big Lots from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Loop Capital reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Big Lots in a research note on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $57.50.
Shares of Big Lots, Inc. (NYSE BIG) opened at 49.51 on Friday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 12.83 and a beta of 0.92. Big Lots, Inc. has a 52 week low of $42.40 and a 52 week high of $56.54. The stock’s 50 day moving average price is $49.41 and its 200 day moving average price is $48.93.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, August 25th. The company reported $0.67 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 analysts’ expectations of $1.21 billion. Big Lots had a net margin of 3.31% and a return on equity of 30.32%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Big Lots, Inc. will post $4.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, September 7th. Big Lots’s dividend payout ratio is currently 26.04%.
In other news, CEO David J. Campisi sold 28,875 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $50.04, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Russell Solt sold 2,100 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $51.50, for a total transaction of $108,150.00. Following the completion of 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 quarter, insiders sold 73,577 shares of company stock valued at $3,717,951. Corporate insiders own 1.70% of the company’s stock.
Big Lots Profile
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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