Kovitz Investment Group Partners LLC Buys New Stake in Staples, Inc. (NASDAQ:SPLS)
Kovitz Investment Group Partners LLC bought a new stake in Staples, Inc. (NASDAQ:SPLS) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 48,200 shares of the specialty retailer’s stock, valued at approximately $485,000.
Other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC purchased a new position in Staples during the second quarter valued at about $109,000. HighTower Advisors LLC purchased a new position in Staples during the first quarter valued at about $102,000. Stephens Inc. AR raised its position in 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. raised its position 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 last quarter. Finally, Cutter & CO Brokerage Inc. raised its position in 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. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Staples, Inc. (NASDAQ SPLS) opened at 10.16 on Thursday. The stock’s market cap is $6.64 billion. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.25. The stock has a 50 day moving average price of $9.97 and a 200-day moving average price of $9.37.
Staples (NASDAQ:SPLS) last released its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The business 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 firm posted $0.17 earnings per share. The company’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts expect that Staples, Inc. will post $0.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Wednesday, June 21st. Staples’s dividend payout ratio (DPR) is -13.30%.
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Several equities analysts recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of Staples in a research note on Wednesday. BidaskClub upgraded Staples from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Staples in a report on Friday, May 19th. Telsey Advisory Group upped their price target on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus 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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