NorthCoast Asset Management LLC Reduces Position in Big Lots, Inc. (NYSE:BIG)

NorthCoast Asset Management LLC decreased its stake in shares of Big Lots, Inc. (NYSE:BIG) by 60.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,176 shares of the company’s stock after selling 225,089 shares during the period. NorthCoast Asset Management LLC’s holdings in Big Lots were worth $10,153,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Foster & Motley Inc. increased its position in Big Lots by 11.6% during the first quarter. Foster & Motley Inc. now owns 27,050 shares of the company’s stock worth $1,848,000 after buying an additional 2,811 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Big Lots during the first quarter worth about $251,000. Royce & Associates LP acquired a new position in shares of Big Lots during the first quarter worth about $753,000. Teacher Retirement System of Texas purchased a new stake in shares of Big Lots during the first quarter worth about $297,000. Finally, Credit Suisse AG increased its position in shares of Big Lots by 36.1% during the first quarter. Credit Suisse AG now owns 43,302 shares of the company’s stock worth $2,958,000 after acquiring an additional 11,482 shares during the last quarter. 98.54% of the stock is owned by institutional investors.

Shares of NYSE:BIG traded down $1.53 during trading on Thursday, hitting $60.79. 1,506 shares of the company traded hands, compared to its average volume of 595,461. The company has a market capitalization of $2.11 billion, a PE ratio of 3.61, a price-to-earnings-growth ratio of 0.79 and a beta of 2.36. The stock has a fifty day simple moving average of $64.41. Big Lots, Inc. has a one year low of $38.59 and a one year high of $73.23. The company has a quick ratio of 0.69, a current ratio of 1.55 and a debt-to-equity ratio of 0.03.

Big Lots (NYSE:BIG) last posted its earnings results on Thursday, May 27th. The company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.93. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. Big Lots had a return on equity of 25.92% and a net margin of 10.56%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. Equities research analysts predict that Big Lots, Inc. will post 6.88 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 25th. Stockholders of record on Friday, June 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 10th. This represents a $1.20 annualized dividend and a dividend yield of 1.97%. Big Lots’s dividend payout ratio is presently 16.33%.

Several analysts recently weighed in on BIG shares. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Monday, May 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on Big Lots from $66.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, June 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Big Lots presently has a consensus rating of “Hold” and an average target price of $63.00.

About Big Lots

Big Lots, Inc, through its subsidiaries, operates as a retailer in the United States. The company offers products under various merchandising categories, such as furniture category that includes upholstery, mattress, case goods, and ready-to-assemble departments; seasonal category, which comprises patio furniture, gazebos, Christmas trim, and other holiday departments; soft home category that consists of fashion and utility bedding, bath, window, decorative textile, home organization, area rugs, home décor, and frames departments; and food category that includes beverage and grocery, candy and snacks, and specialty foods departments.

Further Reading: Upside/Downside

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Institutional Ownership by Quarter for Big Lots (NYSE:BIG)

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