HL Financial Services LLC lowered its stake in Staples, Inc. (NASDAQ:SPLS) by 0.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,712,037 shares of the specialty retailer’s stock after selling 16,403 shares during the period. HL Financial Services LLC owned about 0.26% of Staples worth $17,240,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in SPLS. Stephens Inc. AR boosted its stake in shares of Staples by 6.8% in the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 744 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Staples during the first quarter valued at approximately $102,000. Cutter & CO Brokerage Inc. raised its position in Staples by 13.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 1,500 shares during the period. Concert Wealth Management Inc. raised its position in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 82 shares during the period. Finally, Fisher Asset Management LLC acquired a new position in Staples during the second quarter valued at about $109,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Staples, Inc. (SPLS) opened at 10.175 on Tuesday. The firm has a 50-day moving average of $9.76 and a 200 day moving average of $9.33. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.25. The firm’s market cap is $6.65 billion.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the business posted $0.17 earnings per share. Staples’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Staples, Inc. will post $0.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were issued a $0.12 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.48 annualized dividend and a yield of 4.72%. Staples’s dividend payout ratio is currently -13.30%.
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Several research analysts have issued reports on SPLS shares. Deutsche Bank AG set a $8.00 price target on shares of Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. Telsey Advisory Group lifted their price target on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Finally, Loop Capital restated a “hold” rating and issued a $5.00 price target on shares of Staples in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.18.
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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