Northwestern Mutual Investment Management Company LLC held its position in Staples Inc. (NASDAQ:SPLS) during the second quarter, Holdings Channel reports. The fund owned 24,656 shares of the company’s stock at the end of the second quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Staples were worth $213,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prudential PLC acquired a new position in shares of Staples during the first quarter valued at approximately $122,000. Mackenzie Financial Corp bought a new stake in shares of Staples during the second quarter worth $100,000. Concert Wealth Management Inc. bought a new stake in shares of Staples during the second quarter worth $103,000. Veritable L.P. bought a new stake in shares of Staples during the second quarter worth $103,000. Finally, Lapides Asset Management LLC bought a new stake in shares of Staples during the second quarter worth $106,000. 86.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Staples Inc. (NASDAQ:SPLS) opened at 8.34 on Friday. The stock’s market cap is $5.42 billion. Staples Inc. has a 12 month low of $8.00 and a 12 month high of $13.50. The firm’s 50-day moving average is $8.62 and its 200 day moving average is $9.27.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm 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 company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities analysts predict that Staples Inc. will post $0.89 EPS for the current year.
The business 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. This represents a $0.48 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Wednesday, September 21st. Staples’s payout ratio is currently -70.59%.
A number of brokerages have weighed in on SPLS. Argus restated a “hold” rating on shares of Staples in a research report on Friday, July 15th. Zacks Investment Research downgraded shares of Staples from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Jefferies Group reissued a “hold” rating and set a $9.00 target price on shares of Staples in a research note on Thursday, August 18th. Deutsche Bank AG lowered their target price on shares of Staples from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, August 18th. Finally, Vetr raised shares of Staples from a “buy” rating to a “strong-buy” rating and set a $9.50 target price for the company in a research note on Monday, June 27th. One research 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. Staples has a consensus rating of “Hold” and an average target price of $11.29.
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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