CNH Partners LLC Buys Shares of 6,264,011 Staples, Inc. (SPLS)
CNH Partners LLC bought a new stake in shares of Staples, Inc. (NASDAQ:SPLS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,264,011 shares of the specialty retailer’s stock, valued at approximately $63,079,000. CNH Partners LLC owned 0.96% of Staples at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Staples by 2.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,056,584 shares of the specialty retailer’s stock valued at $10,640,000 after purchasing an additional 29,437 shares during the period. Flippin Bruce & Porter Inc. lifted its position in Staples by 3.0% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 654,201 shares of the specialty retailer’s stock valued at $6,588,000 after purchasing an additional 19,095 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in Staples during the 2nd quarter valued at about $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Staples by 448.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 264,526 shares of the specialty retailer’s stock valued at $2,664,000 after purchasing an additional 216,269 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Staples during the 2nd quarter valued at about $1,246,000. Institutional investors own 85.56% of the company’s stock.
Shares of Staples, Inc. (NASDAQ SPLS) traded up 0.10% during mid-day trading on Friday, hitting $10.25. The stock had a trading volume of 9,785,997 shares. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $9.58. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.26. The firm’s market capitalization is $6.73 billion.
Staples (NASDAQ:SPLS) last posted its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. Staples had a return on equity of 7.49% and a net margin of 1.61%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. Equities analysts expect that Staples, Inc. will post $0.86 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “CNH Partners LLC Buys Shares of 6,264,011 Staples, Inc. (SPLS)” was first published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/cnh-partners-llc-buys-shares-of-6264011-staples-inc-spls/1615458.html.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC restated a “hold” rating and set a $9.00 target price on shares of Staples in a research report on Wednesday, August 9th. Telsey Advisory Group upped their target price 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, Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.85.
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.
Want to see what other hedge funds are holding SPLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Staples, Inc. (NASDAQ:SPLS).
Receive News & Ratings for Staples Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Staples Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.