Independent Order of Foresters Sells 12,330 Shares of Staples, Inc. (SPLS)
Independent Order of Foresters decreased its position in shares of Staples, Inc. (NASDAQ:SPLS) by 39.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,930 shares of the specialty retailer’s stock after selling 12,330 shares during the period. Independent Order of Foresters’ holdings in Staples were worth $191,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. ARP Americas LLC acquired a new stake in shares of Staples during the second quarter worth approximately $15,433,000. Korea Investment CORP acquired a new stake in shares of Staples during the second quarter worth approximately $1,045,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Staples by 214.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 2,623,604 shares of the specialty retailer’s stock worth $26,421,000 after buying an additional 1,790,310 shares during the last quarter. Kassirer Asset Management Corp acquired a new stake in shares of Staples during the second quarter worth approximately $8,257,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Staples by 0.3% in the second quarter. CIBC Asset Management Inc now owns 73,643 shares of the specialty retailer’s stock worth $742,000 after buying an additional 203 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.
Shares of Staples, Inc. (NASDAQ SPLS) opened at 10.19 on Wednesday. Staples, Inc. has a 52 week low of $7.24 and a 52 week high of $10.25. The stock has a 50 day moving average of $9.86 and a 200-day moving average of $9.34. The stock’s market cap is $6.66 billion.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share 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 company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. Staples’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts predict that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.71%. The ex-dividend date was Wednesday, June 21st. Staples’s dividend payout ratio is presently -13.30%.
A number of research firms recently weighed in on SPLS. BidaskClub raised shares of Staples from a “strong sell” rating to a “sell” rating in a report on Saturday. Telsey Advisory Group upped 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. 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. reaffirmed a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Finally, Loop Capital reaffirmed a “hold” rating and set a $5.00 target price on shares of Staples in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target 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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