Oakbrook Investments LLC reduced its stake in Staples, Inc. (NASDAQ:SPLS) by 47.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,340 shares of the specialty retailer’s stock after selling 28,810 shares during the period. Oakbrook Investments LLC’s holdings in Staples were worth $326,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concert Wealth Management Inc. raised its position in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 82 shares in the last quarter. Cleararc Capital Inc. increased its stake in Staples by 0.5% in the first quarter. Cleararc Capital Inc. now owns 15,885 shares of the specialty retailer’s stock valued at $139,000 after buying an additional 85 shares in the last quarter. Advantus Capital Management Inc increased its stake in Staples by 0.6% in the first quarter. Advantus Capital Management Inc now owns 65,306 shares of the specialty retailer’s stock valued at $573,000 after buying an additional 407 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Staples by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the specialty retailer’s stock valued at $408,000 after buying an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Staples by 2.9% in the first quarter. Venturi Wealth Management LLC now owns 20,280 shares of the specialty retailer’s stock valued at $195,000 after buying an additional 580 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.
Staples, Inc. (NASDAQ SPLS) opened at 10.19 on Wednesday. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.25. The firm’s market cap is $6.66 billion. The company’s 50 day moving average is $9.86 and its 200 day moving average is $9.34.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Staples, Inc. will post $0.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Wednesday, June 21st. Staples’s dividend payout ratio (DPR) is -13.30%.
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Several equities analysts have issued reports on SPLS shares. Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. Loop Capital reiterated a “hold” rating and issued a $5.00 price objective on shares of Staples in a research report on Friday, May 19th. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Finally, Telsey Advisory Group upped their price objective 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 research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Staples presently has an average rating of “Hold” and a consensus target price of $9.18.
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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