Jefferies Group set a $9.00 price objective on Staples Inc. (NASDAQ:SPLS) in a report published on Tuesday morning. The firm currently has a a hold rating on the stock.
Other research analysts have also issued research reports about the company. Argus restated a hold rating on shares of Staples in a research report on Friday, July 15th. Zacks Investment Research lowered Staples from a buy rating to a hold rating in a research report on Friday, August 19th. Vetr upgraded Staples from a buy rating to a strong-buy rating and set a $9.50 price objective for the company in a research report on Monday, June 27th. Deutsche Bank AG reduced their price objective on Staples from $9.00 to $8.00 and set a hold rating for the company in a research report on Thursday, August 18th. Finally, Morgan Stanley set a $10.00 price objective on Staples and gave the company a hold rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Staples presently has an average rating of Hold and an average price target of $11.29.
Shares of Staples (NASDAQ:SPLS) opened at 8.03 on Tuesday. The company’s 50-day moving average price is $8.49 and its 200-day moving average price is $9.21. Staples has a 52-week low of $8.00 and a 52-week high of $13.50. The stock’s market cap is $5.22 billion.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The business earned $4.80 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts expect that Staples will post $0.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Wednesday, September 21st. Staples’s dividend payout ratio (DPR) is presently -70.59%.
Several large investors have recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of Staples by 51.8% in the first quarter. Aperio Group LLC now owns 279,811 shares of the company’s stock worth $3,086,000 after buying an additional 95,448 shares during the period. Teachers Advisors Inc. raised its stake in shares of Staples by 1.4% in the first quarter. Teachers Advisors Inc. now owns 1,892,277 shares of the company’s stock worth $20,872,000 after buying an additional 25,682 shares during the period. BlackRock Group LTD raised its stake in shares of Staples by 8.4% in the first quarter. BlackRock Group LTD now owns 5,525,558 shares of the company’s stock worth $60,949,000 after buying an additional 425,888 shares during the period. BlackRock Fund Advisors raised its stake in shares of Staples by 11.7% in the first quarter. BlackRock Fund Advisors now owns 13,588,523 shares of the company’s stock worth $149,881,000 after buying an additional 1,424,748 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Staples by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 16,911,085 shares of the company’s stock worth $186,529,000 after buying an additional 221,296 shares during the period. 86.59% of the stock is currently owned by institutional investors.