Arizona State Retirement System increased its holdings in shares of Big Lots, Inc. (NYSE:BIG) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,548 shares of the company’s stock after purchasing an additional 5,514 shares during the period. Arizona State Retirement System owned approximately 0.07% of Big Lots worth $1,715,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. bought a new position in shares of Big Lots during the 4th quarter valued at about $104,000. Cerebellum GP LLC bought a new position in shares of Big Lots during the 4th quarter valued at about $128,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Big Lots by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock valued at $144,000 after purchasing an additional 1,255 shares in the last quarter. Groesbeck Investment Management Corp NJ bought a new position in shares of Big Lots during the 4th quarter valued at about $202,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Big Lots during the 3rd quarter valued at about $200,000.
BIG has been the topic of several recent analyst reports. Zacks Investment Research cut Big Lots from a “buy” rating to a “hold” rating in a report on Tuesday, November 21st. KeyCorp reiterated a “buy” rating and set a $63.00 price objective on shares of Big Lots in a report on Friday, December 1st. Oppenheimer reiterated a “market perform” rating on shares of Big Lots in a report on Wednesday, January 10th. Citigroup set a $69.00 price objective on Big Lots and gave the company a “buy” rating in a report on Tuesday, December 5th. Finally, UBS Group cut Big Lots from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $60.82.
Shares of Big Lots, Inc. (BIG) opened at $47.36 on Tuesday. Big Lots, Inc. has a 1 year low of $45.10 and a 1 year high of $64.42. The stock has a market capitalization of $1,990.00, a P/E ratio of 12.08, a P/E/G ratio of 0.73 and a beta of 0.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 0.24.
Big Lots (NYSE:BIG) last announced its earnings results on Friday, March 9th. The company reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.14. Big Lots had a return on equity of 32.00% and a net margin of 3.60%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $2.26 EPS. Big Lots’s revenue for the quarter was up 4.0% compared to the same quarter last year. equities analysts expect that Big Lots, Inc. will post 4.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, March 22nd. This is a positive change from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s dividend payout ratio (DPR) is currently 25.51%.
Big Lots declared that its board has authorized a stock buyback program on Friday, March 9th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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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