HL Financial Services LLC Has $17.24 Million Stake in Staples, Inc. (SPLS)
HL Financial Services LLC cut its stake in Staples, Inc. (NASDAQ:SPLS) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 1,712,037 shares of the specialty retailer’s stock after selling 16,403 shares during the period. HL Financial Services LLC’s holdings in Staples were worth $17,240,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of SPLS. James Investment Research Inc. purchased a new stake in Staples during the first quarter valued at $139,000. Concert Wealth Management Inc. raised its stake in 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 period. Boston Private Wealth LLC raised its stake in Staples by 8.0% in the first quarter. Boston Private Wealth LLC now owns 121,855 shares of the specialty retailer’s stock valued at $1,069,000 after buying an additional 8,993 shares during the period. UBS Asset Management Americas Inc. raised its stake in Staples by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,070,639 shares of the specialty retailer’s stock valued at $18,739,000 after buying an additional 10,418 shares during the period. Finally, Westside Investment Management Inc. raised its stake in Staples by 120.4% in the first quarter. Westside Investment Management Inc. now owns 55,650 shares of the specialty retailer’s stock valued at $543,000 after buying an additional 30,400 shares during the period. Institutional investors own 92.02% of the company’s stock.
Shares of Staples, Inc. (SPLS) opened at 10.175 on Tuesday. The company’s market cap is $6.65 billion. Staples, Inc. has a 12 month low of $7.24 and a 12 month high of $10.25. The stock’s 50 day moving average is $9.76 and its 200 day moving average is $9.33.
Staples (NASDAQ:SPLS) last released its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the company earned $0.17 EPS. Staples’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, analysts anticipate that Staples, Inc. will post $0.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, June 21st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.72%. Staples’s payout ratio is presently -13.30%.
Several equities research analysts have weighed in on SPLS shares. Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a report on Saturday. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Finally, Telsey Advisory Group increased their target price on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Staples has an average rating of “Hold” and a consensus target price of $9.18.
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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