Goldman Sachs Maintains Big Lots Sell Recommendation

Aintel reports that on May 31, 2023, Goldman Sachs maintained coverage of Big Lots (NYSE:BIG) with a Sell recommendation.

Analyst Price Forecast Suggests 146.36% Upside

As of May 11, 2023, the average one-year price target for Big Lots is 12.37. The forecasts range from a low of 7.07 to a high of $16.80. The average price target represents an increase of 146.36% from its latest reported closing price of 5.02.

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The projected annual revenue for Big Lots is 5,597MM, an increase of 2.35%. The projected annual non-GAAP EPS is -0.13.

What is the Fund Sentiment?

There are 432 funds or institutions reporting positions in Big Lots. This is a decrease of 13 owner(s) or 2.92% in the last quarter. Average portfolio weight of all funds dedicated to BIG is 0.06%, a decrease of 26.97%. Total shares owned by institutions decreased in the last three months by 1.13% to 32,588K shares. The put/call ratio of BIG is 0.89, indicating a bullish outlook.

What are Other Shareholders Doing?

IJR – iShares Core S&P Small-Cap ETF holds 2,097K shares representing 7.23% ownership of the company. In it’s prior filing, the firm reported owning 2,151K shares, representing a decrease of 2.55%. The firm decreased its portfolio allocation in BIG by 29.36% over the last quarter.

FLPSX – Fidelity Low-Priced Stock Fund holds 1,749K shares representing 6.03% ownership of the company. In it’s prior filing, the firm reported owning 1,744K shares, representing an increase of 0.27%. The firm decreased its portfolio allocation in BIG by 19.05% over the last quarter.

Ninety One UK holds 1,656K shares representing 5.71% ownership of the company. In it’s prior filing, the firm reported owning 1,747K shares, representing a decrease of 5.49%. The firm decreased its portfolio allocation in BIG by 31.33% over the last quarter.

FDMLX – Fidelity Series Intrinsic Opportunities Fund holds 1,100K shares representing 3.79% ownership of the company. No change in the last quarter.

Millennium Management holds 971K shares representing 3.35% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ? ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 28, 2023 or ? TRANSITION REPORT PURSUANT TO SEC

This article originally appeared on Fintel