Ffcm LLC lifted its position in Staples, Inc. (NASDAQ:SPLS) by 140.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,722 shares of the specialty retailer’s stock after purchasing an additional 6,840 shares during the quarter. Ffcm LLC’s holdings in Staples were worth $119,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Staples by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock worth $572,485,000 after acquiring an additional 3,047,800 shares during the period. BlackRock Inc. lifted its position in Staples by 3,241.4% during the 1st quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock worth $420,078,000 after acquiring an additional 46,465,935 shares during the period. Schroder Investment Management Group lifted its position in Staples by 9.8% during the 1st quarter. Schroder Investment Management Group now owns 33,605,835 shares of the specialty retailer’s stock worth $293,715,000 after acquiring an additional 2,985,904 shares during the period. FMR LLC lifted its position in Staples by 4.5% during the 1st quarter. FMR LLC now owns 31,179,864 shares of the specialty retailer’s stock worth $273,447,000 after acquiring an additional 1,346,412 shares during the period. Finally, State Street Corp lifted its position in Staples by 1.4% during the 1st quarter. State Street Corp now owns 29,559,253 shares of the specialty retailer’s stock worth $259,230,000 after acquiring an additional 416,843 shares during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in 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 raised Staples from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of Staples in a research report on Wednesday, August 9th. Telsey Advisory Group increased their price objective on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 price objective on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $9.04.
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Staples, Inc. (SPLS) opened at 10.25 on Friday. The stock’s market capitalization is $6.73 billion. Staples, Inc. has a 52 week low of $7.24 and a 52 week high of $10.26. The stock’s 50 day moving average price is $10.21 and its 200-day moving average price is $9.58.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that Staples, Inc. will post $0.86 earnings per share for the current year.
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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