Chevy Chase Trust Holdings Inc. boosted its stake in Staples, Inc. (NASDAQ:SPLS) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 562,700 shares of the specialty retailer’s stock after buying an additional 1,893 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Staples worth $5,666,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. James Investment Research Inc. bought a new position in Staples during the first quarter worth $139,000. HighPoint Advisor Group LLC boosted its position in Staples by 105.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 102,732 shares of the specialty retailer’s stock worth $942,000 after buying an additional 52,792 shares during the last quarter. Concert Wealth Management Inc. boosted 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 worth $109,000 after buying an additional 82 shares during the last quarter. Boston Private Wealth LLC boosted its position in Staples by 8.0% in the first quarter. Boston Private Wealth LLC now owns 121,855 shares of the specialty retailer’s stock worth $1,069,000 after buying an additional 8,993 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Staples by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,070,639 shares of the specialty retailer’s stock worth $18,739,000 after buying an additional 10,418 shares during the last quarter. 94.57% of the stock is currently owned by institutional investors and hedge funds.
Staples, Inc. (SPLS) opened at 10.09 on Friday. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.25. The stock’s market capitalization is $6.59 billion. The company has a 50-day moving average price of $9.54 and a 200-day moving average price of $9.27.
Staples (NASDAQ:SPLS) last issued its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.50 billion. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. Staples’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. Analysts expect that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.48 dividend on an annualized basis and a yield of 4.76%. Staples’s dividend payout ratio is currently -13.30%.
A number of research analysts have recently weighed in on SPLS shares. Citigroup Inc. raised Staples from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Wednesday, April 5th. Deutsche Bank AG set a $8.00 price objective on Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. Loop Capital reaffirmed a “hold” rating and set a $5.00 price objective on shares of Staples in a research report on Friday, May 19th. Finally, Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target 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.
Want to see what other hedge funds are holding SPLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Staples, Inc. (NASDAQ:SPLS).
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.
