Tocqueville Asset Management L.P. boosted its stake in Staples Inc. (NASDAQ:SPLS) by 227.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,181,799 shares of the company’s stock after buying an additional 820,693 shares during the period. Tocqueville Asset Management L.P.’s holdings in Staples were worth $10,187,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of SPLS. BlackRock Institutional Trust Company N.A. raised its position 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 valued at $186,529,000 after buying an additional 221,296 shares during the period. BlackRock Fund Advisors raised its position 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 valued at $149,881,000 after buying an additional 1,424,748 shares during the period. Renaissance Technologies LLC raised its position in shares of Staples by 405.7% in the first quarter. Renaissance Technologies LLC now owns 8,998,779 shares of the company’s stock valued at $99,257,000 after buying an additional 7,219,432 shares during the period. Nordea Investment Management AB raised its position in shares of Staples by 7.9% in the second quarter. Nordea Investment Management AB now owns 8,194,656 shares of the company’s stock valued at $70,638,000 after buying an additional 598,454 shares during the period. Finally, 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 period. 86.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Staples Inc. (NASDAQ:SPLS) traded down 1.521% during trading on Monday, reaching $7.445. The company’s stock had a trading volume of 5,649,745 shares. Staples Inc. has a 1-year low of $7.44 and a 1-year high of $13.50. The company’s 50-day moving average price is $8.38 and its 200 day moving average price is $9.12. The stock’s market capitalization is $4.84 billion.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. The firm earned $4.80 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. Staples’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share. Analysts anticipate that Staples Inc. will post $0.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 13th. Investors of record on Friday, September 23rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date was Wednesday, September 21st. Staples’s dividend payout ratio is presently -70.59%.
Several research analysts have commented on the company. Vetr raised Staples from a “buy” rating to a “strong-buy” rating and set a $9.50 price objective on the stock in a research report on Monday, June 27th. Argus reissued a “hold” rating on shares of Staples in a research report on Friday, July 15th. Jefferies Group reissued a “hold” rating and issued a $9.00 price objective on shares of Staples in a research report on Thursday, August 18th. Citigroup Inc. cut their price objective on Staples from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. Finally, Deutsche Bank AG cut their price objective on Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Staples currently has an average rating of “Hold” and a consensus price target 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.