Wilkins Investment Counsel Inc. decreased its holdings in Staples, Inc. (NASDAQ:SPLS) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,000 shares of the specialty retailer’s stock after selling 2,000 shares during the quarter. Wilkins Investment Counsel Inc.’s holdings in Staples were worth $403,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Ballentine Partners LLC raised its position in Staples by 0.5% in the 2nd quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 50 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Staples in the 2nd quarter valued at $109,000. Airain ltd acquired a new stake in shares of Staples in the 2nd quarter valued at $109,000. Summit Securities Group LLC acquired a new stake in shares of Staples in the 2nd quarter valued at $116,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Staples in the 1st quarter valued at $102,000. Hedge funds and other institutional investors own 85.56% of the company’s stock.
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Staples, Inc. (NASDAQ:SPLS) traded up 0.10% during mid-day trading on Friday, reaching $10.25. The company had a trading volume of 9,785,997 shares. The stock has a 50 day moving average price of $10.20 and a 200 day moving average price of $9.55. Staples, Inc. has a one year low of $7.24 and a one year high of $10.26. The company’s market capitalization is $6.73 billion.
Staples (NASDAQ:SPLS) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting 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 firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the firm earned $0.12 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts expect that Staples, Inc. will post $0.87 earnings per share for the current fiscal year.
SPLS has been the subject of several research reports. Loop Capital reissued a “hold” rating and issued a $5.00 target price on shares of Staples in a research note on Friday, May 19th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Deutsche Bank AG set a $8.00 price objective on Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Telsey Advisory Group lifted their price objective on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Finally, BidaskClub cut Staples from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Staples currently has an average rating of “Hold” and an average 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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