Bank of New York Mellon Corp Reduces Stake in Staples, Inc. (SPLS)
Bank of New York Mellon Corp decreased its position in Staples, Inc. (NASDAQ:SPLS) by 5.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,970,017 shares of the specialty retailer’s stock after selling 628,198 shares during the period. Bank of New York Mellon Corp owned about 1.52% of Staples worth $100,398,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. James Investment Research Inc. bought a new stake in Staples during the first quarter worth approximately $139,000. Concert Wealth Management Inc. boosted its stake in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock worth $109,000 after buying an additional 82 shares in the last quarter. Boston Private Wealth LLC boosted its stake in Staples by 8.0% in the first quarter. Boston Private Wealth LLC now owns 121,855 shares of the specialty retailer’s stock worth $1,069,000 after buying an additional 8,993 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Staples by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 562,700 shares of the specialty retailer’s stock worth $5,666,000 after buying an additional 1,893 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in Staples by 120.4% in the first quarter. Westside Investment Management Inc. now owns 55,650 shares of the specialty retailer’s stock worth $543,000 after buying an additional 30,400 shares in the last quarter. 90.62% of the stock is owned by institutional investors and hedge funds.
Staples, Inc. (NASDAQ SPLS) opened at 10.22 on Friday. The company’s 50-day moving average is $10.15 and its 200-day moving average is $9.45. The firm’s market capitalization is $6.68 billion. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.25.
Staples (NASDAQ:SPLS) last issued its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period in the previous year, the business earned $0.12 earnings per share. Staples’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts predict that Staples, Inc. will post $0.88 earnings per share for the current year.
A number of analysts have recently commented on SPLS shares. BidaskClub raised shares of Staples from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC reissued a “hold” rating and set a $9.00 target price on shares of Staples in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Staples from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Staples currently has a consensus rating of “Hold” and a consensus target price of $9.04.
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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