Hanson & Doremus Investment Management reduced its stake in Staples Inc. (NASDAQ:SPLS) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,289 shares of the company’s stock after selling 6,205 shares during the period. Hanson & Doremus Investment Management’s holdings in Staples were worth $623,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SPLS. PGGM Investments raised its position in shares of Staples by 55.0% in the second quarter. PGGM Investments now owns 3,707,853 shares of the company’s stock valued at $31,962,000 after buying an additional 1,315,170 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Staples by 5.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 2,172,323 shares of the company’s stock valued at $18,726,000 after buying an additional 119,446 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Staples by 2.4% in the first quarter. Geode Capital Management LLC now owns 5,891,014 shares of the company’s stock valued at $64,858,000 after buying an additional 139,091 shares during the last quarter. HL Financial Services LLC raised its position in shares of Staples by 0.8% in the second quarter. HL Financial Services LLC now owns 2,465,849 shares of the company’s stock valued at $21,256,000 after buying an additional 20,692 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Staples by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,957,916 shares of the company’s stock valued at $21,595,000 after buying an additional 7,801 shares during the last quarter. 86.59% of the stock is currently owned by institutional investors.
Shares of Staples Inc. (NASDAQ:SPLS) traded down 0.78% during mid-day trading on Friday, reaching $7.59. The company had a trading volume of 4,558,051 shares. The firm’s 50-day moving average is $8.41 and its 200 day moving average is $9.14. Staples Inc. has a 12 month low of $7.54 and a 12 month high of $13.50. The company’s market capitalization is $4.94 billion.
Staples (NASDAQ:SPLS) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the business posted $0.12 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts predict that Staples Inc. will post $0.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 13th. Shareholders of record on Friday, September 23rd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 6.27%. The ex-dividend date was Wednesday, September 21st. Staples’s dividend payout ratio is -70.59%.
SPLS has been the topic of several research reports. TheStreet lowered Staples to a “sell” rating in a research report on Friday, August 19th. Jefferies Group reaffirmed a “neutral” rating on shares of Staples in a research report on Wednesday, October 5th. Citigroup Inc. dropped their target price on Staples from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Morgan Stanley set a $10.00 target price on Staples and gave the stock a “hold” rating in a research report on Thursday, August 18th. Finally, Vetr upgraded Staples from a “buy” rating to a “strong-buy” rating and set a $9.50 price target for the company in a research note on Monday, June 27th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.50.
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.