Jefferies Group LLC reiterated their hold rating on shares of Staples, Inc. (NASDAQ:SPLS) in a research note published on Wednesday morning. The brokerage currently has a $9.00 price objective on the specialty retailer’s stock.
Several other brokerages have also recently issued reports on SPLS. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the company a hold rating in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. restated a hold rating on shares of Staples in a research report on Tuesday, June 20th. Loop Capital restated a hold rating and set a $5.00 target price on shares of Staples in a research report on Friday, May 19th. Zacks Investment Research upgraded shares of Staples from a sell rating to a hold rating in a research report on Monday, May 15th. Finally, Telsey Advisory Group boosted their target price on shares of Staples from $9.00 to $10.25 and gave the stock a market perform rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $9.18.
Staples (NASDAQ SPLS) traded down 0.29% during mid-day trading on Wednesday, hitting $10.14. 19,433,781 shares of the stock traded hands. The stock’s market cap is $6.62 billion. Staples has a 12-month low of $7.24 and a 12-month high of $10.25. The company has a 50 day moving average of $10.04 and a 200-day moving average of $9.38.
Staples (NASDAQ:SPLS) last announced its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. Equities research analysts forecast that Staples will post $0.88 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.48 annualized dividend and a dividend yield of 4.73%. Staples’s dividend payout ratio is presently -13.30%.
Several large investors have recently added to or reduced their stakes in the company. Rothschild Investment Corp IL raised its stake in Staples by 3.3% in the first quarter. Rothschild Investment Corp IL now owns 47,475 shares of the specialty retailer’s stock valued at $416,000 after buying an additional 1,500 shares in the last quarter. Huntington National Bank increased its position in shares of Staples by 32.4% in the first quarter. Huntington National Bank now owns 20,041 shares of the specialty retailer’s stock valued at $176,000 after buying an additional 4,900 shares during the last quarter. Hartford Investment Management Co. increased its position in shares of Staples by 3.8% in the first quarter. Hartford Investment Management Co. now owns 171,606 shares of the specialty retailer’s stock valued at $1,505,000 after buying an additional 6,347 shares during the last quarter. Benin Management CORP purchased a new position in shares of Staples during the first quarter valued at $234,000. Finally, DnB Asset Management AS increased its position in shares of Staples by 32.2% in the first quarter. DnB Asset Management AS now owns 48,849 shares of the specialty retailer’s stock valued at $428,000 after buying an additional 11,900 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.
Staples Company Profile
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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