Dimensional Fund Advisors LP raised its stake in Staples Inc. (NASDAQ:SPLS) by 31.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,174,413 shares of the company’s stock after buying an additional 1,715,951 shares during the period. Dimensional Fund Advisors LP owned 1.11% of Staples worth $61,842,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Prudential PLC acquired a new stake in Staples during the first quarter valued at about $122,000. Concert Wealth Management Inc. acquired a new stake in Staples during the second quarter valued at about $103,000. Lapides Asset Management LLC acquired a new stake in Staples during the second quarter valued at about $106,000. Heartland Advisors Inc. acquired a new stake in Staples during the second quarter valued at about $110,000. Finally, SECOR Capital Advisors LP acquired a new stake in Staples during the second quarter valued at about $122,000. 86.59% of the stock is currently owned by institutional investors.
Staples Inc. (NASDAQ:SPLS) traded up 2.52% during midday trading on Friday, reaching $8.55. 7,333,382 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $8.60 and its 200-day moving average is $9.26. The stock’s market capitalization is $5.56 billion. Staples Inc. has a 12-month low of $8.00 and a 12-month high of $13.50.
Staples (NASDAQ:SPLS) last issued its earnings results on Wednesday, August 17th. The company reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.12 EPS. On average, equities analysts forecast that Staples Inc. will post $0.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 23rd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.48 dividend on an annualized basis and a yield of 5.61%. Staples’s dividend payout ratio is currently -70.59%.
Several research firms recently issued reports on SPLS. Vetr raised Staples from a “buy” rating to a “strong-buy” rating and set a $9.50 target price on the stock in a research note on Monday, June 27th. TheStreet lowered shares of Staples to a “sell” rating in a report on Friday, August 19th. Zacks Investment Research lowered shares of Staples from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Jefferies Group restated a “hold” rating and issued a $9.00 price objective on shares of Staples in a report on Thursday, August 18th. Finally, Argus restated a “hold” rating on shares of Staples in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.29.
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.
Receive News & Ratings for Staples Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Staples Inc. and related companies with MarketBeat.com's FREE daily email newsletter.