Big Lots (BIG) Rating Lowered to Market Perform at UBS Group

UBS Group lowered shares of Big Lots (NYSE:BIG) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, The Fly reports.

A number of other research firms have also weighed in on BIG. KeyCorp reiterated a buy rating and set a $63.00 target price on shares of Big Lots in a report on Friday, December 1st. Citigroup set a $69.00 target price on shares of Big Lots and gave the stock a buy rating in a report on Tuesday, December 5th. Zacks Investment Research lowered shares of Big Lots from a buy rating to a hold rating in a report on Tuesday, December 5th. Raymond James Financial reiterated a buy rating and set a $67.00 target price on shares of Big Lots in a report on Saturday, December 2nd. Finally, Telsey Advisory Group increased their target price on shares of Big Lots from $56.00 to $59.00 and gave the stock a market perform rating in a report on Monday, December 4th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Big Lots currently has a consensus rating of Buy and a consensus target price of $60.64.

Big Lots (NYSE BIG) traded down $0.10 during trading on Wednesday, hitting $57.37. 1,368,800 shares of the stock were exchanged, compared to its average volume of 899,647. The company has a current ratio of 1.66, a quick ratio of 0.24 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2,411.43, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.00 and a beta of 0.99. Big Lots has a one year low of $45.10 and a one year high of $60.20.

Big Lots (NYSE:BIG) last posted its earnings results on Friday, December 1st. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Big Lots had a net margin of 3.36% and a return on equity of 30.17%. Big Lots’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. sell-side analysts anticipate that Big Lots will post 4.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.00 annualized dividend and a yield of 1.74%. Big Lots’s dividend payout ratio (DPR) is presently 25.58%.

In other Big Lots news, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $58.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 65,649 shares of the company’s stock, valued at $3,610,695. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of BIG. Sit Investment Associates Inc. lifted its holdings in shares of Big Lots by 8.8% during the fourth quarter. Sit Investment Associates Inc. now owns 16,295 shares of the company’s stock valued at $915,000 after purchasing an additional 1,320 shares during the last quarter. AXA lifted its holdings in shares of Big Lots by 7.9% during the third quarter. AXA now owns 135,400 shares of the company’s stock valued at $7,253,000 after purchasing an additional 9,900 shares during the last quarter. Dana Investment Advisors Inc. purchased a new position in shares of Big Lots during the third quarter valued at approximately $2,250,000. California Public Employees Retirement System lifted its holdings in shares of Big Lots by 2.4% during the third quarter. California Public Employees Retirement System now owns 201,484 shares of the company’s stock valued at $10,793,000 after purchasing an additional 4,758 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Big Lots during the third quarter valued at approximately $524,000.

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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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