BTIM Corp. raised its holdings in shares of Big Lots, Inc. (NYSE:BIG) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 571,008 shares of the company’s stock after purchasing an additional 31,687 shares during the quarter. BTIM Corp. owned 1.42% of Big Lots worth $21,710,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its position in shares of Big Lots by 117.1% during the 3rd quarter. FMR LLC now owns 662,971 shares of the company’s stock valued at $27,706,000 after purchasing an additional 357,611 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Big Lots by 5.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,688,782 shares of the company’s stock valued at $70,573,000 after purchasing an additional 94,193 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Big Lots by 753.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,438 shares of the company’s stock valued at $144,000 after purchasing an additional 3,035 shares during the period. Paloma Partners Management Co acquired a new position in shares of Big Lots during the 3rd quarter valued at $924,000. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Big Lots during the 3rd quarter valued at $1,060,000.
A number of brokerages recently issued reports on BIG. Morgan Stanley lifted their target price on Big Lots from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Monday, March 11th. Raymond James lifted their target price on Big Lots from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Deutsche Bank cut Big Lots from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Bank of America raised their target price on Big Lots from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Zacks Investment Research cut Big Lots from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.93.
Big Lots (NYSE:BIG) last posted its quarterly earnings data on Friday, March 8th. The company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.38. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. Big Lots had a return on equity of 25.67% and a net margin of 3.00%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. As a group, research analysts expect that Big Lots, Inc. will post 3.67 EPS for the current fiscal year.
Big Lots declared that its Board of Directors has approved a stock repurchase program on Friday, March 8th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Big Lots news, insider Nicholas E. Padovano sold 4,734 shares of Big Lots stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $38.19, for a total transaction of $180,791.46. Following the sale, the insider now directly owns 10,776 shares of the company’s stock, valued at $411,535.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen M. Haffer sold 1,646 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 7,432 shares in the company, valued at $264,356.24. The disclosure for this sale can be found here. Insiders have sold 11,380 shares of company stock worth $434,290 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.
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Big Lots Company Profile
Big Lots, Inc, through its subsidiaries, operates as a 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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