Big Lots (BIG) Given a $64.00 Price Target at Morgan Stanley
BIG has been the subject of a number of other research reports. Citigroup cut shares of Big Lots from an outperform rating to a market perform rating in a report on Wednesday, January 10th. They noted that the move was a valuation call. MKM Partners set a $58.00 target price on shares of Big Lots and gave the stock a buy rating in a report on Monday. KeyCorp reissued a buy rating and issued a $63.00 target price on shares of Big Lots in a report on Friday, December 1st. Oppenheimer reissued a market perform rating on shares of Big Lots in a report on Wednesday, January 10th. Finally, Raymond James Financial reissued a buy rating and issued a $67.00 target price on shares of Big Lots in a report on Saturday, December 2nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $59.64.
Big Lots (NYSE BIG) opened at $46.34 on Monday. The company has a market cap of $1,950.00, a PE ratio of 10.32, a PEG ratio of 0.71 and a beta of 0.99. The company has a quick ratio of 0.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. Big Lots has a fifty-two week low of $45.10 and a fifty-two week high of $64.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Friday, March 23rd will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, March 22nd. This is a positive change from Big Lots’s previous quarterly dividend of $0.25. Big Lots’s dividend payout ratio (DPR) is 22.27%.
Big Lots declared that its Board of Directors has initiated a share repurchase plan on Friday, March 9th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Timothy A. Johnson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $55.00, for a total value of $1,100,000.00. Following the completion of the transaction, the insider now owns 65,649 shares in the company, valued at approximately $3,610,695. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey Paul Berger sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $58.00, for a total transaction of $348,000.00. Following the completion of the transaction, the director now owns 7,566 shares of the company’s stock, valued at approximately $438,828. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. ING Groep NV increased its position in Big Lots by 18.3% during the 4th quarter. ING Groep NV now owns 6,406 shares of the company’s stock valued at $360,000 after purchasing an additional 991 shares during the period. DekaBank Deutsche Girozentrale increased its position in Big Lots by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,858 shares of the company’s stock valued at $144,000 after purchasing an additional 1,255 shares during the period. Sit Investment Associates Inc. increased its position in Big Lots by 8.8% during the 4th 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 period. Advisor Group Inc. increased its position in Big Lots by 29.9% during the 3rd quarter. Advisor Group Inc. now owns 6,300 shares of the company’s stock valued at $337,000 after purchasing an additional 1,449 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in Big Lots by 9.4% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,819 shares of the company’s stock valued at $1,057,000 after purchasing an additional 1,612 shares during the period.
About Big Lots
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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