Meag Munich Ergo Kapitalanlagegesellschaft MBH lowered its position in Staples, Inc. (NASDAQ:SPLS) by 23.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,013,388 shares of the specialty retailer’s stock after selling 317,927 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Staples were worth $10,196,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. James Investment Research Inc. acquired a new position in Staples during the first quarter valued at $139,000. HighPoint Advisor Group LLC raised its stake in shares of Staples by 105.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 102,732 shares of the specialty retailer’s stock valued at $942,000 after buying an additional 52,792 shares in the last quarter. Concert Wealth Management Inc. raised its stake in shares of 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. Boston Private Wealth LLC raised its stake in shares of Staples by 8.0% in the first quarter. Boston Private Wealth LLC now owns 121,855 shares of the specialty retailer’s stock valued at $1,069,000 after buying an additional 8,993 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of 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 valued at $18,739,000 after buying an additional 10,418 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.
Shares of Staples, Inc. (NASDAQ:SPLS) traded up 0.30% during mid-day trading on Tuesday, hitting $10.13. The company had a trading volume of 5,988,546 shares. The firm’s market cap is $6.62 billion. The firm’s 50 day moving average is $9.54 and its 200-day moving average is $9.27. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.25.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting 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%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. On average, equities analysts expect that Staples, Inc. will post $0.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date was Wednesday, June 21st. Staples’s payout ratio is -13.30%.
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Several equities research analysts have commented on the company. Telsey Advisory Group upped their price target on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Staples in a research note on Friday, May 19th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research note on Tuesday, May 16th. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Staples in a research note on Thursday, April 6th. Finally, Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a research note 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.18.
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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