Sumitomo Mitsui Asset Management Company LTD Sells 428 Shares of Staples, Inc. (SPLS)
Sumitomo Mitsui Asset Management Company LTD cut its position in shares of Staples, Inc. (NASDAQ:SPLS) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,272 shares of the specialty retailer’s stock after selling 428 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Staples were worth $566,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPLS. Fisher Asset Management LLC acquired a new position in Staples during the second quarter worth $109,000. HighTower Advisors LLC acquired a new position in Staples during the first quarter worth $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 worth $102,000 after buying an additional 744 shares in 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 worth $109,000 after buying an additional 82 shares in 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 worth $108,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.
Shares of Staples, Inc. (NASDAQ:SPLS) opened at 10.16 on Thursday. 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 $9.97 and its 200-day moving average is $9.37. The company’s market capitalization is $6.64 billion.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the company posted $0.17 EPS. The business’s revenue was down 4.9% on a year-over-year basis. Analysts anticipate that Staples, Inc. will post $0.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were paid a $0.12 dividend. 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 currently -13.30%.
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A number of research analysts recently weighed in on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 price objective on shares of Staples in a research note on Wednesday. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Staples in a research report on Friday, May 19th. Telsey Advisory Group boosted their price target on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Staples currently has a consensus rating of “Hold” and an average 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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