Northwest Investment Counselors LLC Cuts Stake in Staples, Inc. (SPLS)
Northwest Investment Counselors LLC reduced its position in Staples, Inc. (NASDAQ:SPLS) by 48.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,765 shares of the specialty retailer’s stock after selling 15,000 shares during the period. Northwest Investment Counselors LLC’s holdings in Staples were worth $159,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in shares of Staples during the first quarter valued at about $102,000. Stephens Inc. AR raised its position in shares of 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 in the last quarter. Concert Wealth Management Inc. raised its position in shares of 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 in the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of 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 in the last quarter. Finally, Dynamic Capital Management Ltd bought a new position in shares of Staples during the first quarter valued at approximately $130,000. Institutional investors own 94.57% of the company’s stock.
Shares of Staples, Inc. (SPLS) traded down 0.10% on Friday, reaching $10.09. The company had a trading volume of 6,702,751 shares. Staples, Inc. has a 52 week low of $7.24 and a 52 week high of $10.25. The firm’s market capitalization is $6.59 billion. The stock’s 50 day moving average is $9.54 and its 200 day moving average is $9.27.
Staples (NASDAQ:SPLS) last released its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.17. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. On average, equities analysts anticipate that Staples, Inc. will post $0.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, June 23rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Wednesday, June 21st. Staples’s dividend payout ratio is presently -13.30%.
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A number of analysts recently weighed in on SPLS shares. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price target on shares of Staples in a research note on Thursday, April 6th. Zacks Investment Research cut shares of Staples from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Telsey Advisory Group raised their target price 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. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a report on Tuesday, May 16th. Finally, Citigroup Inc. raised shares of Staples from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Wednesday, April 5th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target 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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