Shares of Staples, Inc. (NASDAQ:SPLS) have been assigned an average rating of “Hold” from the sixteen ratings firms that are covering the company. Thirteen research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.95.
A number of equities analysts have recently weighed in on the company. Loop Capital started coverage on Staples in a research report on Tuesday, December 13th. They set a “hold” rating and a $10.00 target price on the stock. TheStreet upgraded Staples from a “sell” rating to a “hold” rating in a report on Monday, December 5th. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Staples in a report on Friday, November 18th. Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Finally, Telsey Advisory Group upped their price target on Staples from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, November 17th.
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In other news, SVP Mark Conte sold 5,195 shares of the company’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $9.97, for a total transaction of $51,794.15. Following the transaction, the senior vice president now owns 80,431 shares of the company’s stock, valued at approximately $801,897.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Elkfork Partners LLC bought a new stake in shares of Staples during the fourth quarter worth about $1,626,000. Pinnacle Associates Ltd. boosted its stake in shares of Staples by 23.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 55,137 shares of the company’s stock worth $499,000 after buying an additional 10,400 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Staples by 1.9% in the fourth quarter. Federated Investors Inc. PA now owns 210,540 shares of the company’s stock worth $1,906,000 after buying an additional 3,939 shares during the period. GRT Capital Partners L.L.C. bought a new stake in shares of Staples during the fourth quarter worth about $158,000. Finally, TCW Group Inc. boosted its stake in shares of Staples by 0.4% in the fourth quarter. TCW Group Inc. now owns 114,907 shares of the company’s stock worth $1,040,000 after buying an additional 402 shares during the period. 86.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Staples (NASDAQ:SPLS) opened at 9.15 on Wednesday. The firm’s 50-day moving average price is $9.14 and its 200 day moving average price is $8.81. The firm’s market cap is $5.95 billion. Staples has a one year low of $7.24 and a one year high of $11.37.
Staples (NASDAQ:SPLS) last issued its earnings results on Thursday, November 17th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Staples had a positive return on equity of 11.46% and a negative net margin of 2.25%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the firm earned $0.35 earnings per share. Staples’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts predict that Staples will post $0.88 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Stockholders of record on Wednesday, December 21st were given a dividend of $0.12 per share. The ex-dividend date was Monday, December 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.25%. Staples’s dividend payout ratio is presently -66.67%.
Staples Company Profile
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.
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