Staples, Inc. (SPLS) Shares Bought by Flippin Bruce & Porter Inc.
Flippin Bruce & Porter Inc. boosted its stake in Staples, Inc. (NASDAQ:SPLS) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 654,201 shares of the specialty retailer’s stock after buying an additional 19,095 shares during the period. Flippin Bruce & Porter Inc. owned 0.10% of Staples worth $6,588,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in Staples by 6.8% in the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock valued at $102,000 after buying an additional 744 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Staples during the first quarter valued at about $102,000. Ballentine Partners LLC boosted its stake in shares of Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 50 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Staples by 13.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 1,500 shares during the last quarter. Finally, Concert Wealth Management Inc. boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.
Shares of Staples, Inc. (NASDAQ:SPLS) opened at 10.22 on Tuesday. The firm’s market capitalization is $6.71 billion. The firm has a 50-day moving average price of $10.15 and a 200-day moving average price of $9.45. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.25.
Staples (NASDAQ:SPLS) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the business posted $0.12 EPS. Staples’s revenue was down 3.1% compared to the same quarter last year. On average, analysts forecast that Staples, Inc. will post $0.87 EPS for the current fiscal year.
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Several analysts have recently issued reports on SPLS shares. Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Staples in a research note on Tuesday, May 16th. Loop Capital reiterated a “hold” rating and issued a $5.00 price objective on shares of Staples in a research note on Friday, May 19th. Deutsche Bank AG set a $8.00 price objective on Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. Finally, Telsey Advisory Group increased their price objective on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target 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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