Big Lots (BIG) Declares $0.30 Dividend
Big Lots said on February 28, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Previously, the company paid $0.30 per share.
Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 31, 2023.
At the current share price of $14.98 / share, the stock's dividend yield is 8.01%. Looking back five years and taking a sample every week, the average dividend yield has been 3.78%, the lowest has been 1.70%, and the highest has been 11.28%. The standard deviation of yields is 1.72 (n=237).
The current dividend yield is 2.46 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 0.89% Downside
As of March 6, 2023, the average one-year price target for Big Lots is $14.85. The forecasts range from a low of $9.09 to a high of $21.00. The average price target represents a decrease of 0.89% from its latest reported closing price of $14.98.
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The projected annual revenue for Big Lots is $5,535MM, an increase of 1.22%. The projected annual non-GAAP EPS is -$6.37.
What is the Fund Sentiment?
There are 445 funds or institutions reporting positions in Big Lots. This is a decrease of 25 owner(s) or 5.32% in the last quarter. Average portfolio weight of all funds dedicated to BIG is 0.08%, a decrease of 37.57%. Total shares owned by institutions decreased in the last three months by 4.81% to 33,020K shares. The put/call ratio of BIG is 1.49, indicating a bearish outlook.
What are Large Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 2,151K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 2,104K shares, representing an increase of 2.16%. The firm decreased its portfolio allocation in BIG by 12.44% over the last quarter.
Ninety One UK holds 1,747K shares representing 6.03% ownership of the company. In it's prior filing, the firm reported owning 2,201K shares, representing a decrease of 25.96%. The firm decreased its portfolio allocation in BIG by 99.93% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 1,744K shares representing 6.02% ownership of the company. In it's prior filing, the firm reported owning 1,745K shares, representing a decrease of 0.04%. The firm decreased its portfolio allocation in BIG by 2.45% over the last quarter.
FDMLX - Fidelity Series Intrinsic Opportunities Fund holds 1,100K shares representing 3.80% ownership of the company. No change in the last quarter.
Lsv Asset Management holds 990K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 1,434K shares, representing a decrease of 44.84%. The firm decreased its portfolio allocation in BIG by 38.97% over the last quarter.
Big Lots Background Information
(This description is provided by the company.)
Headquartered in Columbus, Ohio, Big Lots, Inc. is a neighborhood discount retailer operating 1,411 stores in 47 states, as well as a best-in-class ecommerce platform with expanded capabilities via BOPIS, curbside pickup, Instacart and PICKUP with same day delivery. The company's product assortment is focused on home essentials: Furniture, Seasonal, Soft Home, Food, Consumables, Hard Home, and Electronics, Toys & Accessories. Big Lots' mission is to help people Live BIG and Save Lots. The company strives to be the BIG difference for a better life by delivering unmatched value to customers through surprise and delight, being a 'best place to work' culture for associates, rewarding shareholders with consistent growth and top-tier returns, as well as doing good in local communities.
This story originally appeared on Fintel.