Teachers Advisors LLC Cuts Holdings in Staples, Inc. (SPLS)
Teachers Advisors LLC cut its holdings in shares of Staples, Inc. (NASDAQ:SPLS) by 24.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,133,252 shares of the specialty retailer’s stock after selling 699,013 shares during the period. Teachers Advisors LLC owned 0.33% of Staples worth $21,482,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Staples by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock valued at $572,485,000 after purchasing an additional 3,047,800 shares during the period. BlackRock Inc. increased its stake in shares of Staples by 3,241.4% in the 1st 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 during the last quarter. Schroder Investment Management Group increased its stake in shares of Staples by 9.8% in the 1st quarter. Schroder Investment Management Group now owns 33,605,835 shares of the specialty retailer’s stock valued at $293,715,000 after acquiring an additional 2,985,904 shares during the last quarter. FMR LLC increased its stake in shares of Staples by 4.5% in the 1st quarter. FMR LLC now owns 31,179,864 shares of the specialty retailer’s stock valued at $273,447,000 after acquiring an additional 1,346,412 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Staples by 1.4% in the 1st quarter. State Street Corp now owns 29,559,253 shares of the specialty retailer’s stock valued at $259,230,000 after acquiring an additional 416,843 shares during the last quarter. Institutional investors own 85.56% of the company’s stock.
A number of analysts have recently commented on SPLS shares. BidaskClub raised Staples from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Deutsche Bank AG set a $8.00 price target on 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. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Staples in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.04.
Shares of Staples, Inc. (NASDAQ:SPLS) opened at 10.25 on Friday. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.26. The company’s market capitalization is $6.73 billion. The company’s 50-day moving average price is $10.21 and its 200-day moving average price is $9.58.
Staples (NASDAQ:SPLS) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous 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 analysts expect that Staples, Inc. will post $0.86 earnings per share for the current fiscal year.
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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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