Staples, Inc. (SPLS) Shares Bought by Shell Asset Management Co.
Shell Asset Management Co. raised its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 37,090 shares of the specialty retailer’s stock after buying an additional 4,293 shares during the period. Shell Asset Management Co.’s holdings in Staples were worth $373,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Stephens Inc. AR boosted 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 valued at $102,000 after buying an additional 744 shares during the period. HighTower Advisors LLC acquired a new position in Staples during the first quarter valued at about $102,000. Cutter & CO Brokerage Inc. boosted 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 valued at $108,000 after buying an additional 1,500 shares during the period. Concert Wealth Management Inc. boosted 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 valued at $109,000 after buying an additional 82 shares during the period. Finally, Fisher Asset Management LLC acquired a new position in Staples during the second quarter valued at about $109,000. 90.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Staples, Inc. (NASDAQ SPLS) opened at 10.19 on Wednesday. The company’s market capitalization is $6.66 billion. The company’s 50 day moving average price is $10.10 and its 200 day moving average price is $9.39. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.25.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.50 billion. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. Staples’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, analysts predict that Staples, Inc. will post $0.88 EPS for the current year.
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Several research firms recently weighed in on SPLS. Zacks Investment Research lowered Staples from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. Telsey Advisory Group lifted their price target on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. BidaskClub lowered Staples from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Staples in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price 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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