Trading Report: The KeyCorp Lowers Big Lots Inc. (BIG) Price Target to $58.00

The KeyCorp Lowers Big Lots Inc. (BIG) Price Target to $58.00

Big Lots Inc. (NYSE:BIG) had its price target decreased by investment analysts at KeyCorp from $60.00 to $58.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 23.14% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Barclays PLC assumed coverage on shares of Big Lots in a research report on Friday, September 23rd. They issued an “equal weight” rating and a $51.00 price objective for the company. Citigroup Inc. cut their price objective on shares of Big Lots from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, September 1st. Zacks Investment Research raised shares of Big Lots from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Monday, August 29th. MKM Partners reissued a “buy” rating and issued a $60.00 price objective on shares of Big Lots in a research report on Thursday, August 25th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $49.00 price objective on shares of Big Lots in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $49.72.

Big Lots (NYSE:BIG) opened at 47.10 on Thursday. The firm has a 50-day moving average of $48.97 and a 200 day moving average of $48.99. Big Lots has a 12 month low of $33.78 and a 12 month high of $56.30. The stock has a market cap of $2.10 billion, a PE ratio of 14.65 and a beta of 0.77.

Big Lots (NYSE:BIG) last announced its earnings results on Friday, August 26th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The company earned $1.20 billion during the quarter. Big Lots had a net margin of 2.96% and a return on equity of 25.68%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Analysts anticipate that Big Lots will post $3.53 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were paid a $0.21 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.84 annualized dividend and a dividend yield of 1.78%. Big Lots’s dividend payout ratio (DPR) is presently 26.50%.

In other news, insider Timothy A. Johnson sold 12,262 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $50.88, for a total value of $623,890.56. Following the completion of the transaction, the insider now directly owns 96,615 shares in the company, valued at $4,915,771.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Paul Berger sold 7,500 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $53.00, for a total transaction of $397,500.00. Following the completion of the transaction, the director now owns 16,302 shares of the company’s stock, valued at $864,006. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Big Lots by 3.7% in the second quarter. Vanguard Group Inc. now owns 5,015,377 shares of the company’s stock worth $251,320,000 after buying an additional 179,162 shares during the period. Acadian Asset Management LLC increased its position in Big Lots by 472.4% in the second quarter. Acadian Asset Management LLC now owns 1,767,743 shares of the company’s stock worth $88,582,000 after buying an additional 1,458,925 shares during the period. AJO LP increased its position in Big Lots by 36.0% in the second quarter. AJO LP now owns 1,701,741 shares of the company’s stock worth $85,274,000 after buying an additional 450,417 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Big Lots by 4.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,665,047 shares of the company’s stock worth $83,436,000 after buying an additional 64,523 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Big Lots by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,353,966 shares of the company’s stock worth $67,848,000 after buying an additional 27,526 shares during the period.

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