Emerald Acquisition Ltd. Buys New Stake in Staples Inc. (SPLS)
Emerald Acquisition Ltd. bought a new position in Staples Inc. (NASDAQ:SPLS) during the second quarter, Holdings Channel reports. The firm bought 522,580 shares of the company’s stock, valued at approximately $4,504,000. Emerald Acquisition Ltd. owned 0.08% of Staples as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD raised its stake in Staples by 0.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,662 shares of the company’s stock worth $436,000 after buying an additional 300 shares during the period. Woodstock Corp raised its stake in Staples by 6.4% in the second quarter. Woodstock Corp now owns 15,028 shares of the company’s stock worth $130,000 after buying an additional 900 shares during the period. IBM Retirement Fund raised its stake in Staples by 1.4% in the second quarter. IBM Retirement Fund now owns 76,381 shares of the company’s stock worth $688,000 after buying an additional 1,044 shares during the period. Boothbay Fund Management LLC raised its stake in Staples by 7.3% in the first quarter. Boothbay Fund Management LLC now owns 22,167 shares of the company’s stock worth $245,000 after buying an additional 1,499 shares during the period. Finally, Gargoyle Investment Advisor L.L.C. raised its stake in Staples by 2.4% in the second quarter. Gargoyle Investment Advisor L.L.C. now owns 66,455 shares of the company’s stock worth $572,000 after buying an additional 1,560 shares during the period. Institutional investors own 86.59% of the company’s stock.
Shares of Staples Inc. (NASDAQ:SPLS) traded up 0.58% on Friday, reaching $8.64. 7,058,910 shares of the company’s stock traded hands. The company has a 50 day moving average of $8.85 and a 200-day moving average of $9.37. Staples Inc. has a 52 week low of $8.00 and a 52 week high of $14.13. The stock’s market capitalization is $5.62 billion.
Staples (NASDAQ:SPLS) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Staples had a negative net margin of 2.13% and a positive return on equity of 11.20%. The company earned $4.80 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm posted $0.12 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts forecast that Staples Inc. will post $0.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 23rd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Wednesday, September 21st. Staples’s payout ratio is -70.59%.
A number of research firms have issued reports on SPLS. Citigroup Inc. reiterated a “hold” rating on shares of Staples in a report on Sunday, May 22nd. Argus restated a “hold” rating on shares of Staples in a report on Friday, July 15th. Zacks Investment Research lowered shares of Staples from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Jefferies Group restated a “hold” rating and issued a $9.00 price objective on shares of Staples in a report on Thursday, August 18th. Finally, Deutsche Bank AG reduced their price objective on shares of Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Staples currently has an average rating of “Hold” and a consensus price target of $11.29.
In other Staples news, General Counsel Michael Williams sold 12,458 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.59, for a total value of $107,014.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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