First Allied Advisory Services Lowers stake in Staples (SPLS)

Staples (SPLS) : First Allied Advisory Services reduced its stake in Staples by 2.63% during the most recent quarter end. The investment management company now holds a total of 456,235 shares of Staples which is valued at $4,192,800 after selling 12,341 shares in Staples , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Staples makes up approximately 0.23% of First Allied Advisory Services’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in SPLS in the latest quarter, The investment management firm added 27,930 additional shares and now holds a total of 53,780 shares of Staples which is valued at $494,238. Staples makes up approx 0.03% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Mizuho Asset Managementltd. boosted its stake in SPLS in the latest quarter, The investment management firm added 4,222 additional shares and now holds a total of 8,345 shares of Staples which is valued at $76,691. Staples makes up approx 0.01% of Mizuho Asset Managementltd.’s portfolio.Louisiana State Employees Retirement System reduced its stake in SPLS by selling 800 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 42,400 shares of SPLS which is valued at $392,200. Staples makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio. First Quadrant L Pca sold out all of its stake in SPLS during the most recent quarter. The investment firm sold 1,112,100 shares of SPLS which is valued $10,086,747.

Staples opened for trading at $8.58 and hit $8.79 on the upside on Wednesday, eventually ending the session at $8.79, with a gain of 2.57% or 0.22 points. The heightened volatility saw the trading volume jump to 5,372,967 shares. Company has a market cap of $5,717 M.

On the company’s financial health, Staples reported $0.12 EPS for the quarter, based on the information available during the earnings call on Aug 17, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $4752.00 million for the quarter, compared to analysts expectations of $4762.00 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on Staples. Staples was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016.

Staples Inc. is a provider of products and services that serve the needs of business customers and consumers. The Company offers a selection of products such as Websites and mobile platforms retail and online shopping and a range of copy and print and technology services. It operates in three business segments: North American Stores & Online North American Commercial and International Operations. The North American Stores & Online segment includes its retail stores and Staples.com businesses in the United States and Canada. The North American Commercial segment consists of the United States and Canadian businesses that sell and deliver products and services directly to businesses including Staples Advantage and Quill.com. The International Operations segment consists of businesses in around 23 countries in Europe Australia South America and Asia. It serves businesses in North America Europe Australia South America and Asia. Its delivery business offers online order placing.

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