Teachers Retirement System of The State of Kentucky increased its position in Staples, Inc. (NASDAQ:SPLS) by 1,683.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,293,225 shares of the specialty retailer’s stock after buying an additional 1,220,700 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.20% of Staples worth $13,022,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SPLS. Ropes Wealth Advisors LLC boosted its holdings in shares of Staples by 33.6% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 112,241 shares of the specialty retailer’s stock valued at $1,130,000 after purchasing an additional 28,246 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Staples by 93.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,125,911 shares of the specialty retailer’s stock valued at $21,408,000 after purchasing an additional 1,027,817 shares during the last quarter. Cibc World Markets Corp boosted its holdings in shares of Staples by 35.9% during the 2nd quarter. Cibc World Markets Corp now owns 92,297 shares of the specialty retailer’s stock valued at $929,000 after purchasing an additional 24,359 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in shares of Staples by 25.1% during the 2nd quarter. Suntrust Banks Inc. now owns 13,328 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 2,675 shares during the last quarter. Finally, SkyBridge Capital II LLC boosted its holdings in shares of Staples by 4.4% during the 2nd quarter. SkyBridge Capital II LLC now owns 1,433,639 shares of the specialty retailer’s stock valued at $14,437,000 after purchasing an additional 61,052 shares during the last quarter. 85.56% of the stock is owned by institutional investors.

Shares of Staples, Inc. (SPLS) traded up 0.10% during trading on Tuesday, hitting $10.25. 9,785,997 shares of the stock were exchanged. Staples, Inc. has a one year low of $7.24 and a one year high of $10.26. The company’s market cap is $6.73 billion. The stock’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 data 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 analyst estimates of $3.87 billion. During the same period in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts predict that Staples, Inc. will post $0.86 EPS for the current year.

Several research firms have commented on SPLS. Zacks Investment Research raised shares of Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub raised shares of Staples from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 price target on shares of Staples in a report on Wednesday, August 9th. Telsey Advisory Group increased their price target on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a report on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 price target on shares of Staples and gave the company a “hold” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Staples currently has an average rating of “Hold” and a consensus target price of $9.04.

WARNING: “Staples, Inc. (SPLS) Position Lifted by Teachers Retirement System of The State of Kentucky” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/09/26/staples-inc-spls-position-lifted-by-teachers-retirement-system-of-the-state-of-kentucky.html.

About Staples

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.

Institutional Ownership by Quarter for Staples (NASDAQ:SPLS)

Receive News & Stock Ratings for Staples Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Staples Inc. and related stocks with our FREE daily email newsletter.