Big Lots Inc. (BIG) Stock Price Down 4.3%
Big Lots Inc. (NYSE:BIG) shares traded down 4.3% during mid-day trading on Tuesday . The company traded as low as $51.64 and last traded at $51.75, with a volume of 956,273 shares changing hands. The stock had previously closed at $54.09.
A number of research analysts have issued reports on the stock. Northcoast Research lowered shares of Big Lots from a “buy” rating to a “neutral” rating in a research note on Tuesday. Deutsche Bank AG reissued a “hold” rating and set a $49.00 target price on shares of Big Lots in a research note on Tuesday. Zacks Investment Research downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer Holdings Inc. assumed coverage on shares of Big Lots in a research report on Friday, June 3rd. They set an “outperform” rating and a $52.35 price target on the stock. Finally, MKM Partners boosted their price target on shares of Big Lots from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Big Lots presently has a consensus rating of “Hold” and a consensus price target of $49.45.
The stock’s 50 day moving average price is $51.33 and its 200-day moving average price is $45.64. The stock has a market cap of $2.27 billion and a price-to-earnings ratio of 17.02.
Big Lots (NYSE:BIG) last posted its earnings results on Friday, May 27th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.12. The firm earned $1.31 billion during the quarter. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. Equities research analysts forecast that Big Lots Inc. will post $3.47 EPS for the current fiscal year.
In other Big Lots news, Director Jeffrey Paul Berger sold 7,500 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $50.07, for a total transaction of $375,525.00. Following the sale, the director now owns 18,302 shares of the company’s stock, valued at approximately $916,381.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Russell Solt sold 3,000 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $52.10, for a total transaction of $156,300.00. Following the sale, the director now directly owns 12,377 shares in the company, valued at approximately $644,841.70. The disclosure for this sale can be found here.
A number of large investors recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its stake 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. Trexquant Investment LP bought a new stake in shares of Big Lots during the fourth quarter worth approximately $1,646,000. Wells Fargo & Company MN raised its stake in shares of Big Lots by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,773,209 shares of the company’s stock worth $68,339,000 after buying an additional 27,655 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Big Lots by 1.0% in the fourth quarter. Bank of Montreal Can now owns 186,103 shares of the company’s stock worth $7,171,000 after buying an additional 1,833 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Big Lots by 359.5% in the fourth quarter. Morgan Stanley now owns 616,453 shares of the company’s stock worth $23,758,000 after buying an additional 482,308 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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