Concert Wealth Management Inc. acquired a new position in Staples Inc. (NASDAQ:SPLS) during the second quarter, Holdings Channel reports. The institutional investor acquired 11,954 shares of the company’s stock, valued at approximately $103,000.
Several other hedge funds have also recently bought and sold shares of 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 worth $31,962,000 after buying an additional 1,315,170 shares during the last quarter. Candriam Luxembourg S.C.A. increased 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 worth $18,726,000 after buying an additional 119,446 shares in the last quarter. Geode Capital Management LLC increased 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 worth $64,858,000 after buying an additional 139,091 shares in the last quarter. HL Financial Services LLC increased 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 worth $21,256,000 after buying an additional 20,692 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased 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 worth $21,595,000 after buying an additional 7,801 shares in the last quarter. 86.59% of the stock is currently owned by institutional investors.
Staples Inc. (NASDAQ:SPLS) traded down 1.98% during trading on Monday, hitting $7.41. The company had a trading volume of 8,753,765 shares. Staples Inc. has a one year low of $7.38 and a one year high of $13.50. The stock’s market capitalization is $4.82 billion. The stock has a 50-day moving average of $8.38 and a 200-day moving average of $9.12.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. The business earned $4.80 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that Staples Inc. will post $0.89 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 13th. Shareholders of record on Friday, September 23rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend was Wednesday, September 21st. Staples’s dividend payout ratio (DPR) is presently -70.59%.
A number of brokerages have recently weighed in on SPLS. Vetr upgraded Staples from a “buy” rating to a “strong-buy” rating and set a $9.50 price target on the stock in a report on Monday, June 27th. TheStreet downgraded Staples to a “sell” rating in a report on Friday, August 19th. Zacks Investment Research downgraded Staples from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Jefferies Group reiterated a “hold” rating and set a $9.00 price target on shares of Staples in a report on Thursday, August 18th. Finally, Argus reiterated a “hold” rating on shares of Staples in a report on Friday, July 15th. 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $10.50.
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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