Quantitative Investment Management LLC lifted its holdings in Big Lots, Inc. (NYSE:BIG) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,500 shares of the company’s stock after buying an additional 29,900 shares during the quarter. Quantitative Investment Management LLC owned 0.34% of Big Lots worth $8,057,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. AMP Capital Investors Ltd purchased a new stake in shares of Big Lots in the fourth quarter valued at approximately $787,000. BlueCrest Capital Management Ltd acquired a new position in Big Lots during the fourth quarter worth $959,000. Pitcairn Co. acquired a new position in Big Lots during the fourth quarter worth $200,000. North Fourth Asset Management LP acquired a new position in Big Lots during the fourth quarter worth $5,166,000. Finally, Snow Capital Management LP raised its holdings in Big Lots by 3.5% during the fourth quarter. Snow Capital Management LP now owns 1,234,456 shares of the company’s stock worth $69,315,000 after purchasing an additional 42,188 shares during the last quarter.
Several equities analysts recently issued reports on BIG shares. Zacks Investment Research cut Big Lots from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st. KeyCorp reaffirmed a “buy” rating and set a $63.00 price objective on shares of Big Lots in a report on Friday, December 1st. Raymond James Financial reaffirmed a “buy” rating and set a $67.00 price objective on shares of Big Lots in a report on Saturday, December 2nd. Telsey Advisory Group lifted their price objective on Big Lots from $56.00 to $59.00 and gave the stock a “market perform” rating in a report on Monday, December 4th. Finally, Citigroup set a $69.00 price objective on Big Lots and gave the stock a “buy” rating in a report on Tuesday, December 5th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $62.00.
Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Big Lots had a return on equity of 32.00% and a net margin of 3.60%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 earnings per share. equities research analysts anticipate that Big Lots, Inc. will post 4.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Friday, March 23rd will be given a $0.30 dividend. The ex-dividend date is Thursday, March 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s payout ratio is currently 22.83%.
Big Lots announced that its Board of Directors has approved a share buyback plan on Friday, March 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Jeffrey Paul Berger sold 6,000 shares of Big Lots stock in a transaction on Friday, January 5th. The stock was sold at an average price of $58.00, for a total value of $348,000.00. Following the completion of the sale, the director now owns 7,566 shares of the company’s stock, valued at $438,828. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Timothy A. Johnson sold 20,000 shares of Big Lots stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $55.00, for a total value of $1,100,000.00. Following the completion of the sale, the insider now directly owns 65,649 shares of the company’s stock, valued at approximately $3,610,695. The disclosure for this sale can be found here. 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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