Cigna Investments Inc. New decreased its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 7.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,667 shares of the specialty retailer’s stock after selling 1,964 shares during the period. Cigna Investments Inc. New’s holdings in Staples were worth $251,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPLS. Fox Run Management L.L.C. acquired a new position in shares of Staples during the first quarter valued at $243,000. DnB Asset Management AS boosted its position in shares of Staples by 32.2% in the first quarter. DnB Asset Management AS now owns 48,849 shares of the specialty retailer’s stock valued at $428,000 after buying an additional 11,900 shares during the period. Hartford Investment Management Co. boosted its position in shares of Staples by 3.8% in the first quarter. Hartford Investment Management Co. now owns 171,606 shares of the specialty retailer’s stock valued at $1,505,000 after buying an additional 6,347 shares during the period. Huntington National Bank boosted its position in shares of Staples by 32.4% in the first quarter. Huntington National Bank now owns 20,041 shares of the specialty retailer’s stock valued at $176,000 after buying an additional 4,900 shares during the period. Finally, Rothschild Investment Corp IL boosted its position in shares of Staples by 3.3% in the first quarter. Rothschild Investment Corp IL now owns 47,475 shares of the specialty retailer’s stock valued at $416,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 90.62% of the company’s stock.

Shares of Staples, Inc. (NASDAQ SPLS) opened at 10.19 on Tuesday. The firm’s 50-day moving average is $10.14 and its 200-day moving average is $9.43. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.25. The company’s market cap is $6.66 billion.

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Several equities analysts have recently weighed in on SPLS shares. 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 price objective on shares of Staples in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Staples from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reiterated 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, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $9.04.

About Staples

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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Institutional Ownership by Quarter for Staples (NASDAQ:SPLS)

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