Staples, Inc. (NASDAQ:SPLS) Position Maintained by NJ State Employees Deferred Compensation Plan
NJ State Employees Deferred Compensation Plan continued to hold its stake in shares of Staples, Inc. (NASDAQ:SPLS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,348 shares of the specialty retailer’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Staples were worth $306,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in SPLS. BlackRock Inc. increased its stake in shares of Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after buying an additional 46,465,935 shares during the period. Oldfield Partners LLP acquired a new stake in shares of Staples during the first quarter valued at about $124,653,000. Dimensional Fund Advisors LP increased its stake in shares of Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock valued at $132,163,000 after buying an additional 4,930,604 shares during the period. Prudential Financial Inc. increased its stake in shares of Staples by 124.3% in the first quarter. Prudential Financial Inc. now owns 6,124,831 shares of the specialty retailer’s stock valued at $53,715,000 after buying an additional 3,393,950 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Staples by 4.9% in the first quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock valued at $572,485,000 after buying an additional 3,047,800 shares during the period. 92.02% of the stock is currently owned by institutional investors.
Staples, Inc. (NASDAQ SPLS) opened at 10.16 on Thursday. The company’s 50 day moving average is $9.97 and its 200 day moving average is $9.37. The stock’s market cap is $6.64 billion. Staples, Inc. has a 52 week low of $7.24 and a 52 week high of $10.25.
Staples (NASDAQ:SPLS) last posted its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.17 earnings per share. Equities analysts predict that Staples, Inc. will post $0.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 23rd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend was Wednesday, June 21st. Staples’s dividend payout ratio is currently -13.30%.
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SPLS has been the topic of several recent research reports. Deutsche Bank AG set a $8.00 price target on shares of Staples and gave the company a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Staples from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Telsey Advisory Group upped their price target on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a report on Thursday, June 29th. Finally, Loop Capital reaffirmed a “hold” rating and issued a $5.00 price target on shares of Staples in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Staples currently has an average rating of “Hold” and an average target price 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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