Big Lots Inc. (BIG) Hits New 52-Week High at $53.66
Big Lots Inc. (NYSE:BIG) reached a new 52-week high during trading on Monday . The stock traded as high as $53.66 and last traded at $53.28, with a volume of 439,179 shares. The stock had previously closed at $53.28.
Several equities research analysts recently commented on BIG shares. Zacks Investment Research cut Big Lots from a “hold” rating to a “sell” rating in a research note on Monday, May 9th. Deutsche Bank AG lowered Big Lots from a “buy” rating to a “hold” rating and cut their price target for the stock from $49.00 to $47.00 in a report on Monday, May 23rd. Topeka Capital Markets initiated coverage on Big Lots in a report on Monday, May 23rd. They issued a “hold” rating and a $42.00 price target on the stock. MKM Partners increased their price target on Big Lots from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 31st. Finally, Oppenheimer Holdings Inc. initiated coverage on Big Lots in a report on Friday, June 3rd. They issued an “outperform” rating and a $52.35 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.28.
The company has a market cap of $2.37 billion and a P/E ratio of 17.79. The firm’s 50-day moving average price is $51.23 and its 200-day moving average price is $44.72.
Big Lots (NYSE:BIG) last released its earnings results on Friday, May 27th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The company earned $1.31 billion during the quarter. During the same period in the previous year, the business posted $0.60 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Big Lots Inc. will post $3.47 EPS for the current fiscal year.
In related news, Director Jeffrey Paul Berger sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $53.00, for a total transaction of $397,500.00. Following the transaction, the director now owns 16,302 shares in the company, valued at approximately $864,006. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David J. Campisi sold 49,805 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $50.05, for a total value of $2,492,740.25. Following the transaction, the chief executive officer now owns 186,636 shares in the company, valued at approximately $9,341,131.80. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have made changes to their positions in the company. Liberty Mutual Group Asset Management Inc. increased its position in shares of Big Lots by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 33,440 shares of the company’s stock worth $1,289,000 after buying an additional 11,345 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Big Lots during the fourth quarter worth about $1,646,000. Tributary Capital Management LLC increased its position in shares of Big Lots by 35.4% in the fourth quarter. Tributary Capital Management LLC now owns 44,000 shares of the company’s stock worth $1,696,000 after buying an additional 11,500 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Big Lots by 70.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 60,527 shares of the company’s stock worth $2,333,000 after buying an additional 25,047 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Big Lots by 22.9% in the fourth quarter. Sei Investments Co. now owns 65,248 shares of the company’s stock worth $2,515,000 after buying an additional 12,170 shares in the last quarter.
Big Lots, Inc is a United States-based discount retailer. As of December 31, 2014, the Company, through its wholly owned subsidiaries, operated 1,460 stores in 48 states. The Company’s Food category includes beverage and grocery, candy and snacks, and specialty foods. Its Consumables category includes health and beauty, plastics, paper, chemical and pet departments.
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