A number of other equities research analysts also recently commented on SPLS. Vetr upgraded Staples from a buy rating to a strong-buy rating and set a $9.50 target price on the stock in a research report on Monday, June 27th. Argus reiterated a hold rating on shares of Staples in a research report on Friday, July 15th. Deutsche Bank AG decreased their target price on Staples from $9.00 to $8.00 and set a hold rating on the stock in a research report on Thursday, August 18th. TheStreet downgraded Staples to a sell rating in a research report on Friday, August 19th. Finally, Morgan Stanley set a $10.00 target price on Staples and gave the stock a hold rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $11.29.
Staples (NASDAQ:SPLS) opened at 8.04 on Tuesday. The company’s market cap is $5.23 billion. The firm has a 50-day moving average price of $8.50 and a 200-day moving average price of $9.22. Staples has a 52-week low of $8.00 and a 52-week high of $13.50.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.12 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. On average, analysts forecast that Staples will post $0.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, September 23rd will be paid a $0.12 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.48 annualized dividend and a yield of 5.97%. Staples’s dividend payout ratio (DPR) is currently -70.59%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. PGGM Investments boosted its position in shares of Staples by 55.0% in the second quarter. PGGM Investments now owns 3,707,853 shares of the company’s stock valued at $31,962,000 after buying an additional 1,315,170 shares during the period. Candriam Luxembourg S.C.A. boosted its position in shares of Staples by 5.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 2,172,323 shares of the company’s stock valued at $18,726,000 after buying an additional 119,446 shares during the period. Geode Capital Management LLC boosted its position in shares of Staples by 2.4% in the first quarter. Geode Capital Management LLC now owns 5,891,014 shares of the company’s stock valued at $64,858,000 after buying an additional 139,091 shares during the period. HL Financial Services LLC boosted its position in shares of Staples by 0.8% in the second quarter. HL Financial Services LLC now owns 2,465,849 shares of the company’s stock valued at $21,256,000 after buying an additional 20,692 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Staples by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,957,916 shares of the company’s stock valued at $21,595,000 after buying an additional 7,801 shares during the period. 86.59% of the stock is currently owned by institutional investors.
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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