Staples Inc. (NASDAQ:SPLS) was down 5.6% during trading on Tuesday . The company traded as low as $8.84 and last traded at $8.84, with a volume of 3,076,047 shares traded. The stock had previously closed at $9.36.

A number of equities research analysts recently commented on SPLS shares. Telsey Advisory Group increased their price target on Staples from $8.00 to $10.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 11th. Bank of America Corp. increased their price objective on Staples from $8.10 to $10.00 and gave the company a “buy” rating in a research report on Sunday, May 29th. They noted that the move was a valuation call. Argus reiterated a “hold” rating on shares of Staples in a research report on Friday, July 15th. Jefferies Group lowered Staples from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a research report on Wednesday, May 11th. Finally, Wells Fargo & Co. reiterated an “equal weight” rating on shares of Staples in a research report on Sunday, May 15th. Fifteen equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $11.38.

The firm has a market cap of $5.66 billion and a price-to-earnings ratio of 15.64. The company has a 50 day moving average of $8.88 and a 200 day moving average of $9.39.

Staples (NASDAQ:SPLS) last released its earnings results on Wednesday, May 18th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts expect that Staples Inc. will post $0.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 14th. Shareholders of record on Friday, June 24th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.48%. The ex-dividend date was Wednesday, June 22nd.

In other Staples news, General Counsel Michael Williams sold 12,458 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $8.59, for a total transaction of $107,014.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Several hedge funds and institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in shares of Staples by 8.2% in the fourth quarter. American International Group Inc. now owns 26,554,252 shares of the company’s stock worth $251,468,000 after buying an additional 2,018,462 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Staples by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,497,048 shares of the company’s stock worth $52,060,000 after buying an additional 316,995 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Staples by 26.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 3,300,037 shares of the company’s stock worth $31,251,000 after buying an additional 682,681 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Staples by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 1,481,700 shares of the company’s stock worth $14,032,000 after buying an additional 12,000 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of Staples by 0.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,203,002 shares of the company’s stock worth $15,218,000 after buying an additional 11,290 shares during the last quarter.

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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