Investec Asset Management LTD maintained its position in Staples, Inc. (NASDAQ:SPLS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,797 shares of the specialty retailer’s stock at the close of the second quarter. Investec Asset Management LTD’s holdings in Staples were worth $2,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ballentine Partners LLC raised its holdings in shares of Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after buying an additional 50 shares during the last quarter. Concert Wealth Management Inc. raised its holdings 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 worth $109,000 after buying an additional 82 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of Staples by 0.5% in the first quarter. Cleararc Capital Inc. now owns 15,885 shares of the specialty retailer’s stock worth $139,000 after acquiring an additional 85 shares during the period. CIBC Asset Management Inc increased its stake in shares of Staples by 0.3% in the second quarter. CIBC Asset Management Inc now owns 73,643 shares of the specialty retailer’s stock worth $742,000 after acquiring an additional 203 shares during the period. Finally, Advantus Capital Management Inc increased its stake in shares of Staples by 0.6% in the first quarter. Advantus Capital Management Inc now owns 65,306 shares of the specialty retailer’s stock worth $573,000 after acquiring an additional 407 shares during the period. 85.56% of the stock is owned by institutional investors and hedge funds.

Staples (NASDAQ:SPLS) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. Staples’s revenue for the quarter was down 3.1% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Telsey Advisory Group increased their price objective on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Finally, Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. One investment 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 presently has an average rating of “Hold” and a consensus price target of $9.04.

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About Staples

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.

Institutional Ownership by Quarter for Staples (NASDAQ:SPLS)

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