Franklin Resources Inc. Has $299,000 Stake in Staples, Inc. (SPLS)
Franklin Resources Inc. lifted its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 106.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,658 shares of the specialty retailer’s stock after purchasing an additional 15,316 shares during the quarter. Franklin Resources Inc.’s holdings in Staples were worth $299,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Staples by 2.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,056,584 shares of the specialty retailer’s stock worth $10,640,000 after purchasing an additional 29,437 shares during the last quarter. Flippin Bruce & Porter Inc. raised its stake in shares of Staples by 3.0% during the second quarter. Flippin Bruce & Porter Inc. now owns 654,201 shares of the specialty retailer’s stock worth $6,588,000 after purchasing an additional 19,095 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Staples during the second quarter worth approximately $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Staples by 448.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 264,526 shares of the specialty retailer’s stock worth $2,664,000 after purchasing an additional 216,269 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Staples during the second quarter worth approximately $1,246,000. Institutional investors and hedge funds own 85.56% of the company’s stock.
Staples, Inc. (NASDAQ SPLS) opened at 10.25 on Thursday. The firm’s market cap is $6.73 billion. Staples, Inc. has a one year low of $7.24 and a one year high of $10.26. The company’s 50-day moving average price is $10.21 and its 200-day moving average price is $9.58.
Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. Staples had a return on equity of 7.49% and a net margin of 1.61%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. On average, analysts anticipate that Staples, Inc. will post $0.86 EPS for the current year.
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Several equities research analysts have recently commented on the company. Telsey Advisory Group upped their price target on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. BidaskClub cut Staples from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target on shares of Staples in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Finally, Deutsche Bank AG set a $8.00 price target on Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.85.
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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