Fmr LLC Buys 1,183,400 Shares of Big Lots, Inc. (BIG)

Fmr LLC raised its stake in Big Lots, Inc. (NYSE:BIG) by 178.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,846,371 shares of the company’s stock after purchasing an additional 1,183,400 shares during the quarter. Fmr LLC owned 4.61% of Big Lots worth $53,397,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Big Lots by 1.3% during the fourth quarter. BlackRock Inc. now owns 4,846,259 shares of the company’s stock valued at $140,155,000 after acquiring an additional 62,427 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Big Lots by 9.6% during the third quarter. AQR Capital Management LLC now owns 2,127,047 shares of the company’s stock valued at $88,890,000 after acquiring an additional 186,036 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Big Lots by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,735,494 shares of the company’s stock valued at $50,189,000 after acquiring an additional 46,712 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Big Lots by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,133,425 shares of the company’s stock valued at $32,779,000 after acquiring an additional 127,667 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in shares of Big Lots by 1.8% during the fourth quarter. Deprince Race & Zollo Inc. now owns 755,176 shares of the company’s stock valued at $21,840,000 after acquiring an additional 13,524 shares in the last quarter.

In other news, insider Stephen M. Haffer sold 1,646 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.57, for a total value of $58,548.22. Following the sale, the insider now directly owns 7,432 shares of the company’s stock, valued at $264,356.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicholas E. Padovano sold 4,734 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $38.19, for a total value of $180,791.46. Following the completion of the sale, the insider now directly owns 10,776 shares in the company, valued at $411,535.44. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Big Lots from a “sell” rating to a “hold” rating in a report on Monday, February 18th. Deutsche Bank downgraded Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Bank of America upped their target price on Big Lots from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 11th. Morgan Stanley upped their target price on Big Lots from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, March 11th. Finally, ValuEngine upgraded Big Lots from a “strong sell” rating to a “sell” rating in a report on Monday, March 25th. One 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. Big Lots presently has an average rating of “Hold” and a consensus price target of $42.57.

Shares of BIG stock opened at $38.75 on Wednesday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 9.69, a PEG ratio of 1.42 and a beta of 1.30. Big Lots, Inc. has a twelve month low of $26.21 and a twelve month high of $50.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.25 and a current ratio of 1.77.

Big Lots (NYSE:BIG) last issued its quarterly earnings results on Friday, March 8th. The company reported $2.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.38. Big Lots had a return on equity of 25.67% and a net margin of 3.00%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the firm earned $2.57 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Big Lots, Inc. will post 3.67 earnings per share for the current fiscal year.

Big Lots announced that its board has approved a share repurchase program on Friday, March 8th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.10%. Big Lots’s dividend payout ratio is currently 29.70%.

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

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