Shares of Big Lots, Inc. (NYSE: BIG) sold by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. reduced its holdings of Big Lots, Inc. (NYSE: BIG – Get Rating) stock by 21.6% during the 1st quarter, according to its latest disclosure to the Securities & Exchange Commission. The fund held 17,236 shares of the company after selling 4,751 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.06% of Big Lots worth $596,000 when last filed with the SEC.
Other hedge funds have also changed their positions in the company. Squarepoint Ops LLC acquired a new stake in shares of Big Lots during the fourth quarter at a value of $11,993,000. Barclays PLC increased its holdings in Big Lots by 113.4% in the fourth quarter. Barclays PLC now owns 104,204 shares in the company valued at $4,696,000 after acquiring a further 55,379 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in Big Lots by 11.1% in the first quarter. Advisor Group Holdings Inc. now owns 6,988 shares of the company valued at $2,378,000 after acquiring 696 additional shares in the last quarter. Connectus Wealth LLC acquired a new position in Big Lots in the fourth quarter worth $818,000. Finally, Commonwealth Equity Services LLC increased its holdings in Big Lots by 31.4% in the first quarter. Commonwealth Equity Services LLC now owns 13,397 shares of the company valued at $463,000 after acquiring 3,205 additional shares in the last quarter. Institutional investors and hedge funds own 94.42% of the company’s shares.
Wall Street analysts predict growth
A number of research analysts have weighed in on the company recently. Goldman Sachs Group cut its price target on the big lots from $36.00 to $25.00 and set a “sell” rating on the stock in a Tuesday, June 7 report. Deutsche Bank Aktiengesellschaft reduced its target price on jackpots from $31.00 to $23.00 in a Tuesday, May 31 report. Loop Capital cut its jackpot price target from $27.00 to $22.00 and set a “hold” rating on the stock in a Tuesday, June 21 research report. Bank of America cut its price target on the big lots from $31.00 to $25.00 and set an “underperform” rating on the stock in a Tuesday, May 24 research report. Finally, Telsey Advisory Group reduced its price target on the big lots from $32.00 to $30.00 and set a “market performance” rating on the stock in a Tuesday, May 31 research report. Four analysts gave the stock a sell rating and five gave the company a hold rating. According to MarketBeat.com, Big Lots currently has an average rating of “Hold” and an average target price of $24.63.
Jackpot inventory down 8.6%
Shares of NYSE BIG opened at $24.04 on Friday. Big Lots, Inc. has a 1-year low of $18.16 and a 1-year high of $58.67. The company has a market capitalization of $695.24 million, a price/earnings ratio of 10.98 and a beta of 1.97. The company has a debt ratio of 0.28, a quick ratio of 0.19 and a current ratio of 1.52. The stock’s 50-day simple moving average is $22.09 and its 200-day simple moving average is $29.78.
Big Lots (NYSE:BIG – Get Rating) last announced its results on Friday, May 27. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $0.89 per ($1.28). The company posted revenue of $1.37 billion for the quarter, versus $1.46 billion expected by analysts. Big Lots had a return on equity of 7.25% and a net margin of 1.22%. The company’s revenues were down 15.4% from the same quarter last year. In the same period a year earlier, the company posted earnings per share of $2.62. As a group, stock analysts expect Big Lots, Inc. to post earnings per share of -2.34 for the current fiscal year.
Big Lots Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 24. Investors of record on Friday, June 10 received a dividend of $0.30. The ex-dividend date was Thursday, June 9. This represents a dividend of $1.20 on an annualized basis and a yield of 4.99%. The dividend payout ratio (DPR) of Big Lots is 54.79%.
Big Lots Company Profile
(Get an evaluation)
Big Lots, Inc, through its subsidiaries, operates as a discount door-to-door retailer in the United States. The Company offers products in various merchandising categories, such as the furniture category which includes upholstery, mattresses, crate items and ready-to-assemble departments; the seasonal category, which includes patio furniture, gazebos, Christmas trim and other holiday departments; the soft home category which includes the departments of fashion and utility bedding, bathroom, windows, decorative textiles, home organization, area rugs, home decor and picture frames; and the food category which includes beverages and groceries, candies and snacks, specialty foods and pet departments.
Want to see what other hedge funds hold BIG? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Big Lots, Inc. (NYSE: BIG – Get Rating).
Receive daily news and ratings for big prizes – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Big Lots and related companies with MarketBeat.com’s free daily email newsletter.