Staples, Inc. (SPLS) Shares Bought by South Texas Money Management Ltd.
South Texas Money Management Ltd. increased its stake in Staples, Inc. (NASDAQ:SPLS) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,410,970 shares of the specialty retailer’s stock after purchasing an additional 21,282 shares during the period. Staples makes up approximately 1.7% of South Texas Money Management Ltd.’s portfolio, making the stock its 20th biggest holding. South Texas Money Management Ltd. owned approximately 0.52% of Staples worth $34,348,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ballentine Partners LLC grew its position in Staples by 0.5% during the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after acquiring an additional 50 shares during the last quarter. Fisher Asset Management LLC bought a new position in Staples during the second quarter valued at approximately $109,000. Airain ltd bought a new position in Staples during the second quarter valued at approximately $109,000. Summit Securities Group LLC bought a new position in Staples during the second quarter valued at approximately $116,000. Finally, HighTower Advisors LLC bought a new position in Staples during the first quarter valued at approximately $102,000. 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 Wednesday, reaching $10.25. The company had a trading volume of 9,785,997 shares. The stock’s market capitalization is $6.73 billion. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.26. The firm has a 50-day moving average price of $10.21 and a 200-day moving average price of $9.58.
Staples (NASDAQ:SPLS) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. Equities analysts expect that Staples, Inc. will post $0.87 earnings per share for the current year.
A number of research analysts have commented 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 raised Staples from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Jefferies Group LLC reissued a “hold” rating and set a $9.00 price objective on shares of Staples in a research note on Wednesday, August 9th. Telsey Advisory Group increased their price objective on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 price objective on Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.04.
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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