State of Alaska Department of Revenue raised its stake in Staples, Inc. (NASDAQ:SPLS) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,550 shares of the specialty retailer’s stock after buying an additional 1,840 shares during the period. State of Alaska Department of Revenue’s holdings in Staples were worth $539,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Stephens Inc. AR increased its stake in shares of 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 in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Staples during the first quarter valued at about $102,000. Cutter & CO Brokerage Inc. increased its stake in shares of 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 in the last quarter. Concert Wealth Management Inc. increased its stake in shares of 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 in the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in shares of 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) traded up 0.29% during mid-day trading on Wednesday, hitting $10.22. 8,111,992 shares of the company were exchanged. The firm’s market capitalization is $6.68 billion. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.25. The company’s 50-day moving average price is $10.10 and its 200-day moving average price is $9.39.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 EPS. Equities research analysts predict that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on SPLS shares. Zacks Investment Research downgraded Staples from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 target price on shares of Staples in a research note on Wednesday, August 9th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.18.
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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