GoodHaven Capital Management LLC Cuts Stake in Staples, Inc. (SPLS)
GoodHaven Capital Management LLC lessened its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 41.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 725,710 shares of the specialty retailer’s stock after selling 505,600 shares during the quarter. Staples comprises about 3.7% of GoodHaven Capital Management LLC’s portfolio, making the stock its 13th largest holding. GoodHaven Capital Management LLC owned approximately 0.11% of Staples worth $7,308,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Fund Management S.A. acquired a new stake in shares of Staples during the 2nd quarter worth about $3,449,000. Alliancebernstein L.P. lifted its stake in shares of Staples by 4.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,254,826 shares of the specialty retailer’s stock worth $12,636,000 after buying an additional 56,285 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its stake in shares of Staples by 21.7% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,223,722 shares of the specialty retailer’s stock worth $12,324,000 after buying an additional 218,200 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Staples by 106.8% during the 2nd quarter. Franklin Resources Inc. now owns 29,658 shares of the specialty retailer’s stock worth $299,000 after buying an additional 15,316 shares during the last quarter. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Staples during the 2nd quarter worth about $242,000. Institutional investors own 85.56% of the company’s stock.
A number of research firms have recently issued reports on SPLS. BidaskClub cut shares of Staples from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and set a $9.00 target price on shares of Staples in a research note on Wednesday, August 9th. Telsey Advisory Group raised their target price on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. One 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 currently has a consensus rating of “Hold” and a consensus price target of $9.04.
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Staples, Inc. (NASDAQ SPLS) traded up 0.10% during trading on Friday, reaching $10.24. 10,493,180 shares of the company were exchanged. The stock’s market capitalization is $6.72 billion. The firm’s 50 day moving average price is $10.19 and its 200-day moving average price is $9.52. Staples, Inc. has a one year low of $7.24 and a one year high of $10.25.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, meeting 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 business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. The company’s revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that Staples, Inc. will post $0.87 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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