JPMorgan Chase & Co. Sells 42,814 Shares of Big Lots, Inc. (BIG)

JPMorgan Chase & Co. cut its position in Big Lots, Inc. (NYSE:BIG) by 15.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,438 shares of the company’s stock after selling 42,814 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Big Lots worth $11,023,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Big Lots by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,591 shares of the company’s stock worth $331,000 after buying an additional 27 shares in the last quarter. Quotient Investors LLC increased its position in shares of Big Lots by 1.0% in the first quarter. Quotient Investors LLC now owns 10,100 shares of the company’s stock worth $492,000 after buying an additional 100 shares in the last quarter. Putnam Investments LLC increased its position in shares of Big Lots by 1.5% in the fourth quarter. Putnam Investments LLC now owns 10,157 shares of the company’s stock worth $509,000 after buying an additional 154 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Big Lots by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,531 shares of the company’s stock worth $756,000 after buying an additional 200 shares in the last quarter. Finally, State Treasurer State of Michigan increased its position in shares of Big Lots by 1.1% in the first quarter. State Treasurer State of Michigan now owns 18,100 shares of the company’s stock worth $881,000 after buying an additional 200 shares in the last quarter.

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

Shares of Big Lots, Inc. (NYSE BIG) opened at 47.00 on Friday. Big Lots, Inc. has a 12 month low of $42.40 and a 12 month high of $56.54. The company has a 50-day moving average price of $48.78 and a 200-day moving average price of $50.21. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 12.76 and a beta of 0.90.

Big Lots (NYSE:BIG) last released its quarterly earnings results on Friday, May 26th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.99 by $0.16. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Big Lots had a return on equity of 29.88% and a net margin of 3.20%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, analysts expect that Big Lots, Inc. will post $4.20 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.13%. The ex-dividend date was Wednesday, June 7th. Big Lots’s dividend payout ratio (DPR) is 27.25%.

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A number of brokerages have commented on BIG. Oppenheimer Holdings, Inc. set a $60.00 target price on shares of Big Lots and gave the stock a “buy” rating in a report on Saturday, May 27th. ValuEngine downgraded shares of Big Lots from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Big Lots from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Tuesday, May 23rd. Loop Capital reiterated a “buy” rating and issued a $64.00 target price on shares of Big Lots in a report on Tuesday, May 30th. Finally, BidaskClub downgraded shares of Big Lots from a “hold” rating to a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Big Lots currently has an average rating of “Buy” and an average target price of $57.09.

In other Big Lots news, insider Lisa M. Bachmann sold 9,538 shares of Big Lots stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $51.09, for a total transaction of $487,296.42. Following the transaction, the insider now owns 45,920 shares of the company’s stock, valued at $2,346,052.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Allen Schlonsky sold 8,902 shares of Big Lots stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $48.70, for a total value of $433,527.40. Following the transaction, the insider now directly owns 54,207 shares in the company, valued at approximately $2,639,880.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,440 shares of company stock worth $1,670,524. 1.60% of the stock is currently owned by corporate insiders.

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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