Great West Life Assurance Co. Can Has $18.25 Million Stake in Staples, Inc. (SPLS)
Great West Life Assurance Co. Can boosted its stake in Staples, Inc. (NASDAQ:SPLS) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,815,227 shares of the specialty retailer’s stock after buying an additional 5,328 shares during the period. Great West Life Assurance Co. Can’s holdings in Staples were worth $18,254,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new stake in shares of Staples during the second quarter valued at about $109,000. HighTower Advisors LLC purchased a new stake in shares of Staples during the first quarter valued at about $102,000. Stephens Inc. AR increased its stake in shares of Staples by 6.8% in the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 744 shares during the last quarter. Concert Wealth Management Inc. increased its stake in shares of Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 82 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of Staples by 13.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 1,500 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.
Shares of Staples, Inc. (NASDAQ SPLS) opened at 10.185 on Monday. The stock’s 50 day moving average is $9.76 and its 200 day moving average is $9.33. The company’s market cap is $6.65 billion. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.25.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts predict that Staples, Inc. will post $0.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Stockholders of record on Friday, June 23rd were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.48 annualized dividend and a dividend yield of 4.71%. Staples’s dividend payout ratio is currently -13.30%.
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Several analysts have issued reports on the stock. BidaskClub downgraded shares of Staples from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Loop Capital reissued a “hold” rating and issued a $5.00 price objective on shares of Staples in a research note on Friday, May 19th. Telsey Advisory Group raised their price objective on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research note on Tuesday, May 16th. Finally, Zacks Investment Research raised shares of Staples from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Staples has an average rating of “Hold” and a consensus price target of $9.18.
Staples Company Profile
Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.
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