Meeder Asset Management Inc. increased its stake in Staples, Inc. (NASDAQ:SPLS) by 45.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,932 shares of the specialty retailer’s stock after buying an additional 61,290 shares during the period. Meeder Asset Management Inc.’s holdings in Staples were worth $1,717,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. HighPoint Advisor Group LLC bought a new position in shares of Staples during the third quarter valued at $466,000. Accident Compensation Corp raised its position in shares of Staples by 2.4% in the third quarter. Accident Compensation Corp now owns 665,094 shares of the specialty retailer’s stock valued at $5,687,000 after buying an additional 15,500 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Staples during the fourth quarter valued at $4,071,000. Commerzbank Aktiengesellschaft FI raised its position in shares of Staples by 33.6% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 124,219 shares of the specialty retailer’s stock valued at $1,124,000 after buying an additional 31,213 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Staples by 2.6% in the fourth quarter. Comerica Bank now owns 168,267 shares of the specialty retailer’s stock valued at $1,543,000 after buying an additional 4,261 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.
Shares of Staples, Inc. (NASDAQ SPLS) traded down 1.02% during trading on Tuesday, hitting $8.75. 5,679,883 shares of the company traded hands. The stock’s market cap is $5.72 billion. The firm has a 50 day moving average price of $9.17 and a 200-day moving average price of $9.24. Staples, Inc. has a one year low of $7.24 and a one year high of $10.25.
Staples (NASDAQ:SPLS) last posted its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $4.15 billion during 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 firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. Analysts predict that Staples, Inc. will post $0.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 13th. Investors of record on Friday, June 23rd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Wednesday, June 21st. Staples’s dividend payout ratio is currently -13.30%.
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SPLS has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Staples from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Staples in a report on Saturday, March 11th. Citigroup Inc. raised shares of Staples from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, April 5th. Loop Capital reaffirmed a “hold” rating and issued a $10.00 price target on shares of Staples in a report on Thursday, April 6th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a report on Tuesday, May 16th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.06.
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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