Big Lots Inc. (BIG) Reaches New 12-Month High at $53.66
Big Lots Inc. (NYSE:BIG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $53.66 and last traded at $53.28, with a volume of 439,179 shares changing hands. The stock had previously closed at $53.28.
Several equities research analysts recently issued reports on the company. Citigroup Inc. upped their price target on Big Lots from $53.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, June 6th. Oppenheimer Holdings Inc. began coverage on Big Lots in a research report on Friday, June 3rd. They issued an “outperform” rating and a $52.35 target price on the stock. Zacks Investment Research raised Big Lots from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Friday, July 15th. MKM Partners increased their target price on Big Lots from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. Finally, Deutsche Bank AG lowered Big Lots from a “buy” rating to a “hold” rating and dropped their target price for the stock from $49.00 to $47.00 in a research report on Monday, May 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Big Lots has an average rating of “Hold” and an average target price of $49.28.
The firm has a market capitalization of $2.38 billion and a price-to-earnings ratio of 17.86. The company’s 50 day moving average is $51.30 and its 200-day moving average is $45.06.
Big Lots (NYSE:BIG) last issued its earnings results on Friday, May 27th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.12. The business earned $1.31 billion during the quarter. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Equities research analysts expect that Big Lots Inc. will post $3.47 earnings per share for the current year.
In related news, CEO David J. Campisi sold 49,805 shares of the firm’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $50.05, for a total transaction of $2,492,740.25. Following the completion of the sale, the chief executive officer now directly owns 186,636 shares in the company, valued at $9,341,131.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lisa M. Bachmann sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $50.05, for a total transaction of $2,502,500.00. Following the sale, the executive vice president now owns 125,351 shares of the company’s stock, valued at $6,273,817.55. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in BIG. Liberty Mutual Group Asset Management Inc. boosted its stake in 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 valued at $1,289,000 after buying an additional 11,345 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Big Lots during the fourth quarter valued at $1,646,000. Tributary Capital Management LLC raised 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 valued at $1,696,000 after buying an additional 11,500 shares during the period. BNP Paribas Arbitrage SA raised 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 valued at $2,333,000 after buying an additional 25,047 shares during the period. Finally, Sei Investments Co. raised 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 valued at $2,515,000 after buying an additional 12,170 shares during the period.
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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