Sasco Capital Inc. CT trimmed its stake in Big Lots, Inc. (NYSE:BIG) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,882 shares of the company’s stock after selling 62,810 shares during the quarter. Big Lots accounts for 2.2% of Sasco Capital Inc. CT’s portfolio, making the stock its 27th largest position. Sasco Capital Inc. CT’s holdings in Big Lots were worth $59,905,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new stake in shares of Big Lots in the fourth quarter worth approximately $104,000. Cerebellum GP LLC purchased a new stake in shares of Big Lots in the fourth quarter worth approximately $128,000. DekaBank Deutsche Girozentrale lifted its position in shares of Big Lots by 78.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock worth $144,000 after purchasing an additional 1,255 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Big Lots in the third quarter worth approximately $182,000. Finally, Groesbeck Investment Management Corp NJ acquired a new position in Big Lots in the fourth quarter worth approximately $202,000.
In other Big Lots news, insider Timothy A. Johnson sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $55.00, for a total transaction of $1,100,000.00. Following the transaction, the insider now owns 65,649 shares in the company, valued at $3,610,695. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Paul Berger sold 6,000 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $58.00, for a total value of $348,000.00. Following the transaction, the director now owns 7,566 shares in the company, valued at approximately $438,828. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, December 1st. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Big Lots had a return on equity of 30.17% and a net margin of 3.36%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. equities research analysts forecast that Big Lots, Inc. will post 4.3 EPS for the current year.
A number of equities analysts recently commented on BIG shares. Zacks Investment Research upgraded Big Lots from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Thursday, November 30th. Telsey Advisory Group increased 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. Citigroup set a $69.00 price objective on Big Lots and gave the stock a “buy” rating in a report on Tuesday, December 5th. KeyCorp restated a “buy” rating and issued a $58.00 price objective on shares of Big Lots in a report on Friday, November 10th. Finally, UBS Group downgraded Big Lots from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $62.40.
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Big Lots Company 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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