Deprince Race & Zollo Inc. lowered its stake in shares of Big Lots, Inc. (NYSE:BIG) by 12.0% during the first quarter, HoldingsChannel.com reports. The firm owned 664,458 shares of the company’s stock after selling 90,718 shares during the period. Deprince Race & Zollo Inc.’s holdings in Big Lots were worth $25,263,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of BIG. Captrust Financial Advisors raised its stake in Big Lots by 263.0% during the fourth quarter. Captrust Financial Advisors now owns 933 shares of the company’s stock worth $27,000 after purchasing an additional 676 shares during the period. NumerixS Investment Technologies Inc purchased a new position in shares of Big Lots in the 4th quarter valued at $31,000. We Are One Seven LLC purchased a new position in shares of Big Lots in the 4th quarter valued at $71,000. PNC Financial Services Group Inc. raised its stake in shares of Big Lots by 37.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,990 shares of the company’s stock valued at $115,000 after acquiring an additional 1,090 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Big Lots by 753.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,438 shares of the company’s stock valued at $144,000 after acquiring an additional 3,035 shares during the period.
A number of brokerages have recently commented on BIG. ValuEngine raised shares of Big Lots from a “strong sell” rating to a “sell” rating in a research note on Monday, March 25th. Morgan Stanley raised their target price on shares of Big Lots from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, March 11th. Raymond James raised their target price on shares of Big Lots from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, March 11th. Bank of America raised their price target on shares of Big Lots from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Deutsche Bank lowered shares of Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.57.
In related news, insider Nicholas E. Padovano sold 4,734 shares of Big Lots stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $38.19, for a total value of $180,791.46. Following the sale, the insider now directly owns 10,776 shares in the company, valued at approximately $411,535.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen M. Haffer sold 1,646 shares of Big Lots stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.57, for a total transaction of $58,548.22. Following the completion of the sale, the insider now owns 7,432 shares in the company, valued at $264,356.24. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
BIG stock traded up $0.18 during mid-day trading on Thursday, hitting $38.84. 10,379 shares of the company were exchanged, compared to its average volume of 1,462,266. The firm has a market cap of $1.55 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.77 and a quick ratio of 0.25. Big Lots, Inc. has a twelve month low of $26.21 and a twelve month high of $50.35.
Big Lots (NYSE:BIG) last posted its quarterly earnings results on Friday, March 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.38. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.60 billion. Big Lots had a net margin of 3.00% and a return on equity of 25.67%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. On average, sell-side analysts expect that Big Lots, Inc. will post 3.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.20 annualized dividend and a yield of 3.09%. Big Lots’s dividend payout ratio is presently 29.70%.
Big Lots announced that its Board of Directors has authorized a stock buyback plan on Friday, March 8th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a community 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 Christmas trim, lawn and garden, summer, 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.
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