HL Financial Services LLC Buys 20,692 Shares of Staples Inc. (SPLS)
HL Financial Services LLC increased its stake in Staples Inc. (NASDAQ:SPLS) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,465,849 shares of the company’s stock after buying an additional 20,692 shares during the period. HL Financial Services LLC’s holdings in Staples were worth $21,256,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of SPLS. E&G Advisors LP increased its position in shares of Staples by 122.0% in the second quarter. E&G Advisors LP now owns 55,500 shares of the company’s stock valued at $478,000 after buying an additional 30,500 shares during the period. Parkwood LLC acquired a new position in shares of Staples during the second quarter valued at $651,000. Northwest Investment Counselors LLC acquired a new position in shares of Staples during the second quarter valued at $308,000. New York State Teachers Retirement System increased its position in shares of Staples by 5.4% in the second quarter. New York State Teachers Retirement System now owns 1,194,987 shares of the company’s stock valued at $10,301,000 after buying an additional 61,150 shares during the period. Finally, Oakbrook Investments LLC increased its position in shares of Staples by 19.1% in the second quarter. Oakbrook Investments LLC now owns 43,000 shares of the company’s stock valued at $371,000 after buying an additional 6,900 shares during the period. Hedge funds and other institutional investors own 86.59% of the company’s stock.
Shares of Staples Inc. (NASDAQ:SPLS) traded down 1.05% during mid-day trading on Tuesday, reaching $8.46. 5,172,894 shares of the company were exchanged. The firm’s 50-day moving average is $8.75 and its 200-day moving average is $9.33. The company’s market capitalization is $5.50 billion. Staples Inc. has a 12 month low of $8.00 and a 12 month high of $13.50.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. The firm earned $4.80 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $0.12 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Staples Inc. will post $0.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 23rd will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Wednesday, September 21st. Staples’s dividend payout ratio is presently -70.59%.
Several research analysts have weighed in on the company. Argus reiterated a “hold” rating on shares of Staples in a report on Friday, July 15th. Zacks Investment Research downgraded Staples from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Citigroup Inc. reiterated a “neutral” rating on shares of Staples in a report on Wednesday, June 1st. Jefferies Group reiterated a “hold” rating and issued a $9.00 price target on shares of Staples in a report on Thursday, August 18th. Finally, Deutsche Bank AG cut their price target on Staples from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.29.
In other Staples news, General Counsel Michael Williams sold 12,458 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.59, for a total value of $107,014.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by company insiders.
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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