Accident Compensation Corp lessened its holdings in shares of Staples, Inc. (NASDAQ:SPLS) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,776 shares of the specialty retailer’s stock after selling 37,400 shares during the period. Accident Compensation Corp owned about 0.06% of Staples worth $4,237,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Staples by 2.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,056,584 shares of the specialty retailer’s stock valued at $10,640,000 after purchasing an additional 29,437 shares during the period. Flippin Bruce & Porter Inc. increased its holdings in Staples by 3.0% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 654,201 shares of the specialty retailer’s stock valued at $6,588,000 after purchasing an additional 19,095 shares during the period. Delta Lloyd Asset Management N.V. purchased a new position in Staples during the 2nd quarter valued at about $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Staples by 448.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 264,526 shares of the specialty retailer’s stock valued at $2,664,000 after purchasing an additional 216,269 shares during the period. Finally, Concert Wealth Management Inc. increased its holdings in Staples by 0.7% during the 1st quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after purchasing an additional 82 shares during the period. Institutional investors own 85.56% of the company’s stock.
Staples, Inc. (SPLS) traded up 0.10% during mid-day trading on Friday, reaching $10.25. The company’s stock had a trading volume of 9,785,997 shares. Staples, Inc. has a one year low of $7.24 and a one year high of $10.26. The firm’s 50 day moving average is $10.20 and its 200-day moving average is $9.55. The stock’s market cap is $6.73 billion.
Staples (NASDAQ:SPLS) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Equities analysts expect that Staples, Inc. will post $0.87 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on SPLS. Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub raised Staples from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price objective on shares of Staples in a research report on Wednesday, August 9th. Telsey Advisory Group lifted their price objective on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 price objective on Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $9.04.
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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