Shell Asset Management Co. boosted its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,090 shares of the specialty retailer’s stock after buying an additional 4,293 shares during the period. Shell Asset Management Co.’s holdings in Staples were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPLS. Concert Wealth Management Inc. increased its position in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 82 shares in the last quarter. Cleararc Capital Inc. increased its position in Staples by 0.5% in the first quarter. Cleararc Capital Inc. now owns 15,885 shares of the specialty retailer’s stock valued at $139,000 after buying an additional 85 shares in the last quarter. Advantus Capital Management Inc increased its position in Staples by 0.6% in the first quarter. Advantus Capital Management Inc now owns 65,306 shares of the specialty retailer’s stock valued at $573,000 after buying an additional 407 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Staples by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the specialty retailer’s stock valued at $408,000 after buying an additional 500 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in Staples by 2.9% in the first quarter. Venturi Wealth Management LLC now owns 20,280 shares of the specialty retailer’s stock valued at $195,000 after buying an additional 580 shares in the last quarter. 90.62% of the stock is owned by institutional investors.

Shares of Staples, Inc. (NASDAQ:SPLS) opened at 10.19 on Wednesday. The firm’s market cap is $6.66 billion. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.25. The firm’s 50-day moving average is $10.10 and its 200-day moving average is $9.39.

Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. Analysts anticipate that Staples, Inc. will post $0.88 earnings per share for the current year.

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Several research analysts have recently issued reports on the company. Loop Capital reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Staples in a research note on Friday, May 19th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. BidaskClub downgraded shares of Staples from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Telsey Advisory Group increased their target price on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.18.

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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Institutional Ownership by Quarter for Staples (NASDAQ:SPLS)

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