Big Lots, Inc. (NYSE:BIG) declared a quarterly dividend on Friday, August 30th, RTT News reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.30 per share on Friday, September 27th. This represents a $1.20 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Thursday, September 12th.
Big Lots has raised its dividend by an average of 16.4% annually over the last three years and has increased its dividend every year for the last 4 years. Big Lots has a payout ratio of 27.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Big Lots to earn $3.90 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 30.8%.
BIG stock traded down $0.33 during midday trading on Wednesday, hitting $24.11. The company’s stock had a trading volume of 36,568 shares, compared to its average volume of 1,716,997. Big Lots has a 52-week low of $19.83 and a 52-week high of $45.13. The firm has a market capitalization of $942.82 million, a P/E ratio of 5.97, a PEG ratio of 0.79 and a beta of 1.40. The company has a quick ratio of 0.17, a current ratio of 1.09 and a debt-to-equity ratio of 2.31. The firm has a 50-day simple moving average of $22.92 and a 200-day simple moving average of $30.11.
BIG has been the topic of a number of analyst reports. ValuEngine lowered shares of Big Lots from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 15th. Telsey Advisory Group set a $26.00 price objective on Big Lots and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Barclays reduced their price target on shares of Big Lots from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. KeyCorp reduced their price objective on Big Lots from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. Finally, Piper Jaffray Companies downgraded Big Lots from an “overweight” rating to a “neutral” rating and cut their price target for the company from $44.00 to $31.00 in a report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Big Lots currently has an average rating of “Hold” and an average price target of $31.83.
In related news, SVP Ronald A. Robins, Jr. sold 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $23.42, for a total value of $117,100.00. Following the completion of the transaction, the senior vice president now directly owns 30,532 shares of the company’s stock, valued at approximately $715,059.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.
About Big Lots
Big Lots, Inc, through its subsidiaries, operates as a 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.
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