State Street Corp Sells 413,251 Shares of Staples, Inc. (SPLS)
State Street Corp decreased its holdings in Staples, Inc. (NASDAQ:SPLS) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,146,002 shares of the specialty retailer’s stock after selling 413,251 shares during the quarter. State Street Corp owned 4.46% of Staples worth $293,493,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Staples by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 66,280,831 shares of the specialty retailer’s stock worth $667,448,000 after buying an additional 1,003,226 shares in the last quarter. BlackRock Inc. lifted its position in shares of Staples by 1.1% during the 2nd quarter. BlackRock Inc. now owns 48,433,573 shares of the specialty retailer’s stock worth $487,727,000 after buying an additional 534,143 shares in the last quarter. FMR LLC lifted its position in shares of Staples by 15.1% during the 2nd quarter. FMR LLC now owns 35,888,851 shares of the specialty retailer’s stock worth $361,400,000 after buying an additional 4,708,987 shares in the last quarter. Valueinvest Asset Management S.A. lifted its position in shares of Staples by 7.7% during the 1st quarter. Valueinvest Asset Management S.A. now owns 14,251,800 shares of the specialty retailer’s stock worth $124,988,000 after buying an additional 1,019,700 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Staples by 16.8% during the 1st quarter. Bank of America Corp DE now owns 6,165,137 shares of the specialty retailer’s stock worth $54,068,000 after buying an additional 885,877 shares in the last quarter. 85.56% of the stock is currently owned by institutional investors and hedge funds.
Staples, Inc. (SPLS) opened at 10.25 on Monday. The company has a 50-day moving average of $10.21 and a 200-day moving average of $9.58. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.26. The stock’s market capitalization is $6.73 billion.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Staples had a net margin of 1.61% and a return on equity of 7.49%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. Analysts anticipate that Staples, Inc. will post $0.86 earnings per share for the current fiscal year.
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Several equities analysts have commented on the stock. BidaskClub raised shares of Staples from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Telsey Advisory Group lifted their target price on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. Finally, Zacks Investment Research cut shares of Staples from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. 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 has a consensus rating of “Hold” and an average target price of $8.85.
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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