Big Lots (BIG) Hits New 12-Month Low at $44.53

Big Lots, Inc. (NYSE:BIG)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $44.53 and last traded at $44.45, with a volume of 649193 shares trading hands. The stock had previously closed at $45.74.

Several research firms have recently commented on BIG. Citigroup downgraded Big Lots from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. They noted that the move was a valuation call. Loop Capital decreased their target price on Big Lots from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, March 12th. Barclays reaffirmed a “hold” rating and issued a $50.00 target price on shares of Big Lots in a research report on Thursday, March 15th. MKM Partners set a $58.00 target price on Big Lots and gave the company a “buy” rating in a research report on Monday, March 12th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $63.00 target price on shares of Big Lots in a research report on Friday, December 1st. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Big Lots has a consensus rating of “Hold” and an average price target of $58.83.

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The stock has a market capitalization of $1,922.58, a PE ratio of 9.84, a PEG ratio of 0.69 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.73 and a quick ratio of 0.25.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, March 9th. The company reported $2.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.14. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Big Lots had a return on equity of 31.12% and a net margin of 3.60%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.26 earnings per share. equities research analysts forecast that Big Lots, Inc. will post 4.88 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.78%. This is an increase from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s dividend payout ratio is currently 22.83%.

Big Lots announced that its Board of Directors has initiated a share 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 usually a sign that the company’s board of directors believes its stock is undervalued.

In other Big Lots news, Director Jeffrey Paul Berger sold 6,000 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $58.00, for a total transaction of $348,000.00. Following the completion of the sale, the director now directly owns 7,566 shares in the company, valued at $438,828. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David J. Campisi sold 25,414 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $47.29, for a total value of $1,201,828.06. The disclosure for this sale can be found here. Insiders have sold 51,414 shares of company stock worth $2,649,828 in the last three months. 1.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Research Inc. bought a new stake in Big Lots during the fourth quarter worth $919,000. Vident Investment Advisory LLC bought a new stake in Big Lots during the third quarter worth $2,959,000. Jane Street Group LLC bought a new stake in Big Lots during the third quarter worth $524,000. Hudson Bay Capital Management LP bought a new stake in Big Lots during the fourth quarter worth $3,745,000. Finally, Keybank National Association OH bought a new stake in Big Lots during the fourth quarter worth $823,000.

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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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