Staples (SPLS) : Palouse Capital Management reduced its stake in Staples by 14.48% during the most recent quarter end. The investment management company now holds a total of 372,122 shares of Staples which is valued at $3,442,129 after selling 63,008 shares in Staples , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Staples makes up approximately 1.34% of Palouse Capital Management’s portfolio.
Other Hedge Funds, Including , Retirement Systems Of Alabama boosted its stake in SPLS in the latest quarter, The investment management firm added 521,505 additional shares and now holds a total of 1,171,178 shares of Staples which is valued at $10,833,397. Staples makes up approx 0.06% of Retirement Systems Of Alabama’s portfolio.E&g Advisors Lp boosted its stake in SPLS in the latest quarter, The investment management firm added 30,500 additional shares and now holds a total of 55,500 shares of Staples which is valued at $513,375. Staples makes up approx 0.30% of E&g Advisors Lp’s portfolio. Park Circle Co sold out all of its stake in SPLS during the most recent quarter. The investment firm sold 53,000 shares of SPLS which is valued $480,710.Cornerstone Investment Partners reduced its stake in SPLS by selling 775 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 89,577 shares of SPLS which is valued at $811,568. Staples makes up approx 0.03% of Cornerstone Investment Partners’s portfolio.
Staples opened for trading at $9.24 and hit $9.32 on the upside on Friday, eventually ending the session at $9.29, with a gain of 0.65% or 0.06 points. The heightened volatility saw the trading volume jump to 47,00,597 shares. Company has a market cap of $6,004 M.
On the company’s financial health, Staples reported $0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.16. The company had revenue of $5101.00 million for the quarter, compared to analysts expectations of $5083.89 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.17 EPS.
Many Wall Street Analysts have commented on Staples. Staples was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016. Shares were Reiterated by Telsey Advisory Group on May 11, 2016 to “Market Perform” and Lowered the Price Target to $ 8 from a previous price target of $10 .Staples was Downgraded by Jefferies to ” Hold” on May 11, 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.