Staples Inc. (SPLS) Trading Down 5.6%
Staples Inc. (NASDAQ:SPLS) fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $8.84 and last traded at $8.84, with a volume of 3,076,047 shares changing hands. The stock had previously closed at $9.36.
Several brokerages have issued reports on SPLS. Bank of America Corp. raised shares of Staples from an “underperform” rating to a “buy” rating and boosted their price target for the company from $8.10 to $10.00 in a report on Monday, May 23rd. They noted that the move was a valuation call. Citigroup Inc. reissued a “hold” rating on shares of Staples in a report on Sunday, May 22nd. Jefferies Group began coverage on shares of Staples in a report on Thursday, May 19th. They issued a “hold” rating and a $9.00 price target on the stock. Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Finally, Vetr lowered shares of Staples from a “strong-buy” rating to a “buy” rating and set a $9.50 price target on the stock. in a report on Wednesday, May 25th. Fifteen investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Staples currently has a consensus rating of “Hold” and an average price target of $11.38.
The firm has a market cap of $5.85 billion and a P/E ratio of 16.16. The stock’s 50-day moving average price is $8.90 and its 200-day moving average price is $9.39.
Staples (NASDAQ:SPLS) last posted its earnings results on Wednesday, May 18th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. During the same period in the prior year, the business posted $0.17 EPS. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.08 billion. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that Staples Inc. will post $0.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 14th. Stockholders of record on Friday, June 24th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date was Wednesday, June 22nd.
In other news, General Counsel Michael Williams sold 12,458 shares of Staples 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 filing with the Securities & Exchange Commission, which is accessible through this link.
Several large investors have recently bought and sold shares of SPLS. American International Group Inc. increased its stake in 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 in the last quarter. Dimensional Fund Advisors LP increased its position in 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 period. Diamond Hill Capital Management Inc. increased its position in 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 period. New York State Common Retirement Fund increased its position in 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 period. Finally, Mizuho Trust & Banking Co. Ltd. increased its position in Staples by 1.0% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 966,378 shares of the company’s stock worth $9,210,000 after buying an additional 9,223 shares during the period.
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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