Staples to close around 70 stores in 2017

Mark Lennihan

Mark Lennihan

Other analysts also recently issued reports about the company. Valtura Capital Partners LLC acquired a new position in Staples during the second quarter worth about $3,360,000. QV Investors Inc. increased its stake in shares of Staples by 0.6% in the third quarter. Yacktman Asset Management LP now owns 2,252,300 shares of the company's stock worth $19,415,000 after buying an additional 9,900 shares in the last quarter. Concert Wealth Management Inc. now owns 12,099 shares of the company's stock worth $104,000 after buying an additional 145 shares during the period. If that gets cut, it would likely decimate the stock price further as income investors flee.

Total shares held by institutions as of the most recent company filings are 413,988,606 with a reported 35,546,183 bought and 60,875,112 sold. Following the completion of the transaction, the senior vice president now directly owns 80,431 shares in the company, valued at approximately $801,897.07.

Receive Staples, Inc. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Staples, Inc. with MarketBeat.com's FREE daily email newsletter. (NASDAQ:SPLS) traded down 0.11% during trading on Friday, hitting $9.24. The stock has a market capitalization of $5.77B and it has 650.55M outstanding shares. The stock's next day closing price was $9.22 with the gain of 3.95% in its share price. According to a research note disclosed on May 11, 2016, analysts at UBS have lowered their rating on these shares from Buy to Neutral.

Snow, freezing rain fall on Harford County Friday
There is a 60 percent chance of snow Saturday , mainly before noon, with a high in the lower 30s, the weather service said. The NWS forecasts a 100 percent chance of snow Thursday with daytime accumulation of about three inches.

Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Thursday, November 17th. Earnings, adjusted for one-time gains and costs, came to 25 cents per share. Staples had a positive return on equity of 11.46% and a negative net margin of 2.25%.

Total company comparable sales for the fourth quarter of 2016 declined one percent compared to the fourth quarter of 2015. Therefore, the company recorded an after-tax loss from discontinued operations of $337 million in the fourth quarter, compared to an after-tax loss of $44 million from discontinued operations in the same period past year. The firm's revenue for the quarter was down 2.9% compared to the same quarter previous year. On average, equities research analysts anticipate that Staples will post $0.90 EPS for the current year. During the same period in the prior year, the company earned $0.26 EPS. Jefferies Group LLC reissued a "hold" rating and issued a $9.00 target price on shares of Staples in a report on Friday, November 18th. This represents a $0.48 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Wednesday, March 22nd.

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