Private Advisor Group LLC Increases Position in Staples, Inc. (SPLS)
Private Advisor Group LLC boosted its holdings in shares of Staples, Inc. (NASDAQ:SPLS) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,706 shares of the specialty retailer’s stock after acquiring an additional 76 shares during the period. Private Advisor Group LLC’s holdings in Staples were worth $330,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. IFM Investors Pty Ltd purchased a new stake in Staples during the 2nd quarter valued at about $242,000. Freestone Capital Holdings LLC grew its stake in Staples by 8.9% during the 2nd quarter. Freestone Capital Holdings LLC now owns 390,700 shares of the specialty retailer’s stock valued at $3,934,000 after acquiring an additional 31,977 shares in the last quarter. LSV Asset Management grew its stake in Staples by 6.4% during the 2nd quarter. LSV Asset Management now owns 148,000 shares of the specialty retailer’s stock valued at $1,490,000 after acquiring an additional 8,900 shares in the last quarter. Ffcm LLC grew its stake in Staples by 140.1% during the 2nd quarter. Ffcm LLC now owns 11,722 shares of the specialty retailer’s stock valued at $119,000 after acquiring an additional 6,840 shares in the last quarter. Finally, Quinn Opportunity Partners LLC grew its stake in Staples by 3,854.3% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock valued at $55,675,000 after acquiring an additional 5,388,948 shares in the last quarter. 85.56% of the stock is owned by institutional investors.
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Several analysts recently issued reports on SPLS shares. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of Staples in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Staples from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Telsey Advisory Group upped their price objective on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research note on Thursday, June 29th. 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 company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.04.
Staples, Inc. (SPLS) opened at 10.25 on Tuesday. The firm’s market capitalization is $6.73 billion. The firm has a 50-day moving average of $10.21 and a 200 day moving average of $9.57. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.26.
Staples (NASDAQ:SPLS) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.87 billion. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.12 EPS. On average, equities analysts predict that Staples, Inc. will post $0.87 EPS 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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