Big Lots, Inc. (BIG) Shares Bought by BTIM Corp.

BTIM Corp. boosted its position in Big Lots, Inc. (NYSE:BIG) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 571,008 shares of the company’s stock after buying an additional 31,687 shares during the quarter. BTIM Corp. owned approximately 1.42% of Big Lots worth $21,710,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Captrust Financial Advisors increased its holdings in Big Lots by 263.0% in the fourth quarter. Captrust Financial Advisors now owns 933 shares of the company’s stock valued at $27,000 after buying an additional 676 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Big Lots in the fourth quarter valued at about $31,000. We Are One Seven LLC bought a new stake in Big Lots in the fourth quarter valued at about $71,000. PNC Financial Services Group Inc. increased its holdings in Big Lots by 37.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,990 shares of the company’s stock valued at $115,000 after buying an additional 1,090 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Big Lots by 753.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,438 shares of the company’s stock valued at $144,000 after buying an additional 3,035 shares during the last quarter.

Shares of NYSE BIG opened at $38.75 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.77 and a quick ratio of 0.25. The company has a market cap of $1.58 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. Big Lots, Inc. has a 12-month low of $26.21 and a 12-month high of $50.35.

Big Lots (NYSE:BIG) last issued its quarterly earnings data on Friday, March 8th. The company reported $2.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.38. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.60 billion. Big Lots had a return on equity of 25.67% and a net margin of 3.00%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 earnings per share. On average, analysts predict that Big Lots, Inc. will post 3.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 21st. This represents a $1.20 annualized dividend and a dividend yield of 3.10%. Big Lots’s dividend payout ratio is presently 29.70%.

Big Lots declared that its Board of Directors has initiated a stock buyback program on Friday, March 8th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several equities analysts have recently commented on the company. Raymond James upped their target price on Big Lots from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Morgan Stanley upped their target price on Big Lots from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Monday, March 11th. Bank of America upped their target price on Big Lots from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 11th. ValuEngine raised Big Lots from a “strong sell” rating to a “sell” rating in a report on Monday, March 25th. Finally, Zacks Investment Research raised Big Lots from a “sell” rating to a “hold” rating in a report on Monday, February 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.57.

In other news, insider Nicholas E. Padovano sold 4,734 shares of the business’s 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 completion of the transaction, the insider now directly owns 10,776 shares in the company, valued at $411,535.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider now owns 7,432 shares of the company’s stock, valued at $264,356.24. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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Big Lots Company Profile

Big Lots, Inc, through its subsidiaries, operates as a community 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.

Further Reading: Special Dividends

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Institutional Ownership by Quarter for Big Lots (NYSE:BIG)

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