HighPoint Advisor Group LLC Takes Position in Staples, Inc. (SPLS)
HighPoint Advisor Group LLC acquired a new position in Staples, Inc. (NASDAQ:SPLS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 49,940 shares of the company’s stock, valued at approximately $466,000.
Other hedge funds also recently bought and sold shares of the company. Cullen Capital Management LLC bought a new stake in Staples during the third quarter worth about $519,000. Croft Leominster Inc. increased its stake in Staples by 57.9% in the third quarter. Croft Leominster Inc. now owns 586,619 shares of the company’s stock worth $5,015,000 after buying an additional 215,180 shares in the last quarter. PVG Asset Management Corp bought a new stake in Staples during the third quarter worth about $2,835,000. Boston Private Wealth LLC increased its stake in Staples by 4.3% in the third quarter. Boston Private Wealth LLC now owns 107,063 shares of the company’s stock worth $915,000 after buying an additional 4,434 shares in the last quarter. Finally, Green Square Capital LLC increased its stake in Staples by 13.8% in the third quarter. Green Square Capital LLC now owns 439,565 shares of the company’s stock worth $3,810,000 after buying an additional 53,189 shares in the last quarter. 85.71% of the stock is owned by institutional investors.
Shares of Staples, Inc. (NASDAQ:SPLS) opened at 9.27 on Friday. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $11.37. The company’s market capitalization is $6.03 billion. The firm has a 50-day moving average of $9.16 and a 200 day moving average of $8.82.
Staples (NASDAQ:SPLS) last announced its earnings results on Thursday, November 17th. The company reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. Staples had a negative net margin of 2.25% and a positive return on equity of 11.46%. The business earned $5.40 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. On average, analysts anticipate that Staples, Inc. will post $0.88 EPS for the current year.
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A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Staples from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, January 19th. Loop Capital assumed coverage on shares of Staples in a report on Tuesday, December 13th. They set a “hold” rating and a $10.00 price objective for the company. TheStreet raised shares of Staples from a “sell” rating to a “hold” rating in a report on Monday, December 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of Staples in a report on Friday, November 18th. Finally, Telsey Advisory Group lifted their price objective on shares of Staples from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Thursday, November 17th. Thirteen investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.04.
In other news, SVP Mark Conte sold 5,195 shares of the stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $9.97, for a total value of $51,794.15. Following the completion of the sale, the senior vice president now directly owns 80,431 shares of the company’s stock, valued at $801,897.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.
Staples Company Profile
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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