BlueCrest Capital Management Ltd acquired a new stake in Staples, Inc. (NASDAQ:SPLS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 121,846 shares of the specialty retailer’s stock, valued at approximately $1,227,000.
Several other hedge funds and other institutional investors have also bought and sold shares of SPLS. BlackRock Inc. boosted its stake in shares of Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after purchasing an additional 46,465,935 shares during the period. Quinn Opportunity Partners LLC boosted its stake in shares of Staples by 3,854.3% in the second quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock valued at $55,675,000 after purchasing an additional 5,388,948 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock valued at $132,163,000 after purchasing an additional 4,930,604 shares during the period. FMR LLC boosted its stake in shares of Staples by 15.1% in the second quarter. FMR LLC now owns 35,888,851 shares of the specialty retailer’s stock valued at $361,400,000 after purchasing an additional 4,708,987 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Staples by 4.9% in the first quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock valued at $572,485,000 after purchasing an additional 3,047,800 shares during the period. 85.56% of the stock is owned by institutional investors and hedge funds.
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SPLS has been the subject of several recent research reports. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the company a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a report on Tuesday, June 20th. BidaskClub cut shares of Staples from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Telsey Advisory Group raised their target price 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. One 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. The company has an average rating of “Hold” and a consensus price target of $8.85.
Shares of Staples, Inc. (SPLS) opened at 10.25 on Friday. The company has a 50-day moving average of $10.21 and a 200 day moving average of $9.58. Staples, Inc. has a one year low of $7.24 and a one year high of $10.26. The firm’s market cap is $6.73 billion.
Staples (NASDAQ:SPLS) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share 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 return on equity of 7.49% and a net margin of 1.61%. Staples’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. On average, equities research analysts expect that Staples, Inc. will post $0.86 EPS for the current fiscal year.
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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