Staples, Inc. (SPLS) Position Cut by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC cut its stake in Staples, Inc. (NASDAQ:SPLS) by 59.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,996 shares of the specialty retailer’s stock after selling 530,970 shares during the period. BlueMountain Capital Management LLC owned 0.06% of Staples worth $3,716,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SPLS. BlackRock Inc. raised its holdings in Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after acquiring an additional 46,465,935 shares in the last quarter. Quinn Opportunity Partners LLC raised its holdings in shares of Staples by 3,854.3% during the second quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock worth $55,675,000 after purchasing an additional 5,388,948 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Staples by 48.6% during the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock worth $132,163,000 after purchasing an additional 4,930,604 shares during the period. Prudential Financial Inc. raised its holdings in shares of Staples by 124.3% during the first quarter. Prudential Financial Inc. now owns 6,124,831 shares of the specialty retailer’s stock worth $53,715,000 after purchasing an additional 3,393,950 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Staples by 4.9% during the first quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock worth $572,485,000 after purchasing an additional 3,047,800 shares during the period. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
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Staples, Inc. (SPLS) traded up 0.10% during trading on Friday, hitting $10.25. 9,785,997 shares of the stock traded hands. The company has a 50-day moving average price of $10.20 and a 200 day moving average price of $9.55. The stock’s market cap is $6.73 billion. Staples, Inc. has a one year low of $7.24 and a one year high of $10.26.
Staples (NASDAQ:SPLS) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. Staples’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share. Analysts expect that Staples, Inc. will post $0.87 earnings per share for the current year.
A number of analysts have weighed in on SPLS shares. Loop Capital reissued a “hold” rating and set a $5.00 target price on shares of Staples in a report on Friday, May 19th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a report on Thursday, June 22nd. Telsey Advisory Group increased their target price on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Finally, BidaskClub cut shares of Staples from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.04.
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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