Asset Management One Co. Ltd. Has $8.32 Million Holding in Staples, Inc. (SPLS)

Asset Management One Co. Ltd. Has $8.32 Million Holding in Staples, Inc. (SPLS)

Asset Management One Co. Ltd. lowered its stake in shares of Staples, Inc. (NASDAQ:SPLS) by 24.4% during the first quarter, Holdings Channel reports. The institutional investor owned 949,066 shares of the specialty retailer’s stock after selling 306,606 shares during the period. Asset Management One Co. Ltd.’s holdings in Staples were worth $8,321,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SPLS. Wexford Capital LP acquired a new position in Staples during the fourth quarter valued at $100,000. Capstone Investment Advisors LLC acquired a new position in Staples during the fourth quarter valued at $108,000. Cutter & CO Brokerage Inc. raised its position in Staples by 13.9% in the first quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock valued at $108,000 after buying an additional 1,500 shares during the last quarter. Concert Wealth Management Inc. raised its position in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 82 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Staples during the fourth quarter valued at $115,000. 85.71% of the stock is owned by institutional investors.

Shares of Staples, Inc. (SPLS) traded down 0.55% during midday trading on Friday, hitting $9.10. 4,839,159 shares of the stock were exchanged. The stock’s 50 day moving average is $9.38 and its 200 day moving average is $9.28. The firm’s market cap is $5.94 billion. Staples, Inc. has a 12-month low of $7.24 and a 12-month high of $10.25.

Staples (NASDAQ:SPLS) last issued its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Staples had a negative net margin of 2.25% and a positive return on equity of 11.46%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the firm earned $0.17 EPS. The business’s revenue was down 4.9% on a year-over-year basis. On average, equities research analysts forecast that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the stock. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Staples in a report on Tuesday, May 16th. Loop Capital reiterated a “hold” rating and issued a $5.00 price objective on shares of Staples in a report on Friday, May 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 price objective on shares of Staples in a report on Saturday, March 11th. Zacks Investment Research lowered shares of Staples from a “buy” rating to a “hold” rating in a report on Monday, February 20th. Finally, Citigroup Inc upgraded shares of Staples from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Wednesday, April 5th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Staples currently has an average rating of “Hold” and a consensus target price of $9.06.

About Staples

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SPLS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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