Ontario Teachers Pension Plan Board Sells 119,873 Shares of Staples, Inc. (SPLS)
Ontario Teachers Pension Plan Board cut its stake in Staples, Inc. (NASDAQ:SPLS) by 37.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,526 shares of the specialty retailer’s stock after selling 119,873 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Staples were worth $2,039,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ballentine Partners LLC raised its holdings in shares of Staples by 0.5% during the 2nd quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after acquiring an additional 50 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Staples in the second quarter valued at about $109,000. Airain ltd purchased a new stake in shares of Staples in the second quarter valued at about $109,000. Summit Securities Group LLC purchased a new stake in shares of Staples in the second quarter valued at about $116,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Staples in the first quarter valued at about $102,000. 85.56% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on SPLS. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Staples from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the company a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued 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 assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $9.04.
Staples, Inc. (NASDAQ SPLS) opened at 10.25 on Monday. The firm has a 50-day moving average of $10.21 and a 200-day moving average of $9.58. The firm’s market cap is $6.73 billion. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.26.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. Equities analysts anticipate that Staples, Inc. will post $0.86 EPS for the current year.
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Staples Company Profile
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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