Accident Compensation Corp boosted its position in Staples, Inc. (NASDAQ:SPLS) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 665,094 shares of the company’s stock after buying an additional 15,500 shares during the period. Staples makes up 1.5% of Accident Compensation Corp’s portfolio, making the stock its 18th largest position. Accident Compensation Corp’s holdings in Staples were worth $5,687,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Staples by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 38,131,615 shares of the company’s stock worth $326,024,000 after buying an additional 2,240,287 shares during the period. Pzena Investment Management LLC increased its stake in shares of Staples by 0.8% in the third quarter. Pzena Investment Management LLC now owns 34,174,464 shares of the company’s stock worth $292,192,000 after buying an additional 270,163 shares during the period. Schroder Investment Management Group increased its stake in shares of Staples by 2.8% in the third quarter. Schroder Investment Management Group now owns 27,888,841 shares of the company’s stock worth $238,449,000 after buying an additional 755,229 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Staples by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 18,116,330 shares of the company’s stock worth $154,895,000 after buying an additional 82,431 shares during the period. Finally, BlackRock Fund Advisors increased its stake in shares of Staples by 4.7% in the third quarter. BlackRock Fund Advisors now owns 15,015,546 shares of the company’s stock worth $128,383,000 after buying an additional 667,975 shares during the period. Hedge funds and other institutional investors own 85.71% of the company’s stock.
Staples, Inc. (NASDAQ:SPLS) traded up 0.820% during trading on Monday, reaching $9.225. 1,392,697 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $9.14 and a 200-day moving average price of $8.81. Staples, Inc. has a 12 month low of $7.24 and a 12 month high of $11.37. The firm’s market cap is $6.00 billion.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Staples had a negative net margin of 2.25% and a positive return on equity of 11.46%. The firm had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts forecast that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.
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A number of equities research analysts have recently commented on the company. Loop Capital assumed coverage on Staples in a research report on Tuesday, December 13th. They set a “hold” rating and a $10.00 price objective for the company. TheStreet upgraded Staples from a “sell” rating to a “hold” rating in a research report on Monday, December 5th. Zacks Investment Research downgraded Staples from a “hold” rating to a “sell” rating in a research report on Thursday, November 10th. Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price objective on shares of Staples in a research report on Friday, November 18th. Finally, Telsey Advisory Group increased their price objective on Staples from $8.00 to $9.00 and gave the company a “market perform” rating in a research report on Thursday, November 17th. Thirteen analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Staples presently has a consensus rating of “Hold” and an average target price of $10.04.
In related news, SVP Mark Conte sold 5,195 shares of the firm’s stock in a transaction dated Thursday, December 8th. The shares were sold at an average price of $9.97, for a total transaction of $51,794.15. Following the transaction, the senior vice president now directly owns 80,431 shares of the company’s stock, valued at $801,897.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
Staples Company Profile
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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