IFM Investors Pty Ltd bought a new position in shares of Staples, Inc. (NASDAQ:SPLS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,014 shares of the specialty retailer’s stock, valued at approximately $242,000.
A number of other large investors have also recently made changes to their positions in SPLS. BlackRock Inc. grew its stake in shares of Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after buying an additional 46,465,935 shares in the last quarter. Quinn Opportunity Partners LLC grew its stake in Staples by 3,854.3% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock valued at $55,675,000 after purchasing an additional 5,388,948 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Staples by 48.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock valued at $132,163,000 after purchasing an additional 4,930,604 shares in the last quarter. Prudential Financial Inc. grew its stake in Staples by 124.3% during the 1st quarter. Prudential Financial Inc. now owns 6,124,831 shares of the specialty retailer’s stock valued at $53,715,000 after purchasing an additional 3,393,950 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Staples by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock valued at $572,485,000 after purchasing an additional 3,047,800 shares in the last quarter. 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 company’s stock had a trading volume of 9,785,997 shares. The stock’s market cap is $6.73 billion. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.26. The company has a 50-day moving average price of $10.20 and a 200-day moving average price of $9.55.
Staples (NASDAQ:SPLS) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm earned $0.12 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Analysts predict that Staples, Inc. will post $0.87 EPS for the current fiscal year.
Several analysts recently issued reports on the company. BidaskClub cut Staples from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and issued a $9.00 target price on shares of Staples in a report on Wednesday, August 9th. Telsey Advisory Group lifted their target price on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 target price on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.04.
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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