Staples Inc. (NASDAQ:SPLS) has received a consensus recommendation of “Hold” from the sixteen research firms that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.06.
SPLS has been the topic of a number of research reports. Citigroup Inc. dropped their target price on shares of Staples from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 25th. Morgan Stanley set a $10.00 target price on shares of Staples and gave the stock a “hold” rating in a report on Thursday, August 18th. Deutsche Bank AG dropped their target price on shares of Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, August 18th. Argus reissued a “hold” rating on shares of Staples in a report on Friday, July 15th. Finally, Jefferies Group reissued a “hold” rating and set a $9.00 target price on shares of Staples in a report on Thursday, August 18th.
In other news, General Counsel Michael Williams sold 12,458 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.59, for a total transaction of $107,014.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC raised its stake in Staples by 6.2% in the first quarter. Ropes Wealth Advisors LLC now owns 52,520 shares of the company’s stock worth $579,000 after buying an additional 3,075 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Staples during the first quarter worth approximately $6,537,000. BlackRock Institutional Trust Company N.A. raised its stake in Staples by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 16,911,085 shares of the company’s stock worth $186,529,000 after buying an additional 221,296 shares in the last quarter. BlackRock Fund Advisors raised its stake in Staples by 11.7% in the first quarter. BlackRock Fund Advisors now owns 13,588,523 shares of the company’s stock worth $149,881,000 after buying an additional 1,424,748 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Staples by 8.4% in the first quarter. BlackRock Group LTD now owns 5,525,558 shares of the company’s stock worth $60,949,000 after buying an additional 425,888 shares in the last quarter. 86.59% of the stock is owned by institutional investors.
Staples (NASDAQ:SPLS) traded up 0.060% during mid-day trading on Tuesday, reaching $8.315. 2,559,776 shares of the company were exchanged. The stock’s market capitalization is $5.41 billion. Staples has a 12 month low of $8.00 and a 12 month high of $13.50. The company’s 50 day moving average price is $8.69 and its 200-day moving average price is $9.29.
Staples (NASDAQ:SPLS) last issued its earnings results on Wednesday, August 17th. The company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. On average, equities analysts expect that Staples will post $0.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.48 annualized dividend and a dividend yield of 5.78%. Staples’s dividend payout ratio (DPR) is -70.59%.
Staples Company Profile
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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