Big Lots holds steady; store of the future coming

Mar 06, 2017, 00:21

Big Lots' digital sales channel, which only recently got off the ground, should grow to a significant portion of revenue over time, especially as consumers keep flocking to online shopping outlets.

Big Lots also said that comparable store sales ("comps") in the latest period gained 0.3%, noting that marked the twelfth consecutive quarter of flat or positive same-store results.

The topline results for the fourth quarter slipped to $ 1.58 billion from $ 1.58 billion in the same quarter past year. The company's 50-day moving average is $50.82 and its 200 day moving average is $49.78. "Throughout 2016, we were able to drive improved consistency in our business resulting in operating profit and EPS results meaningfully above our original plans and previous year". Zacks Investment Research lowered shares of Big Lots from a buy rating to a hold rating in a research report on Tuesday, December 6th.

Big Lots (NYSE:BIG) last announced its quarterly earnings results on Friday, March 3rd.

Earlier in the week, Big Lots' board of directors OK'd a share buyback of up to $150 million in common shares. The stock has a consensus rating of "Hold" and a consensus target price of $54.42. The shares were sold at an average price of $52.00, for a total value of $780,000.00. This is a boost from Big Lots's previous quarterly dividend of $0.21. Oppenheimer Holdings has a "Outperform" rating and a $60.00 price target on the stock. The stock had a trading volume of 444,155 shares. The company reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.22 by $0.04. The stock has a market capitalization of $2.36B and it has 44.56M outstanding shares.

Big Lots ended the fiscal year with 1,432 stores in 47 states. Guggenheim Capital LLC now owns 89,222 shares of the company's stock worth $4,480,000 after buying an additional 33,555 shares in the last quarter.

For the current year, Big Lots now expects adjusted per-share earnings of $3.95 to $4.10. Bank of Montreal Can bought a new position in Big Lots during the second quarter worth $22,950,000. Following the transaction, the chief executive officer now directly owns 100,569 shares of the company's stock, valued at $5,229,588. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Dimensional Fund Advisors LP increased its position in Big Lots by 1.2% in the fourth quarter. This dividend is payable on March 31, to shareholders of record as of the close of business on March 17. Finally, Investec Asset Management LTD increased its position in Big Lots by 2.3% in the fourth quarter.

In the transaction dated November 22, 2016, the great number of shares disposed came courtesy the Senior Vice President; Stein Andrew D disposed a total of 5,000 shares at an average price of $53, amounting to approximately $265,000. Following the sale, the director now directly owns 25,202 shares in the company, valued at approximately $1,335,706. The disclosure for this sale can be found here. This represents a $0.84 annualized dividend and a dividend yield of 1.66%. The third largest holder is Lsv Asset Management, which now holds $119.67 million worth of this stock and that ownership represents almost 5.27% of its market capitalization. The ex-dividend date was Wednesday, December 14th.

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