Cadence Capital Management LLC Has $1.06 Million Stake in Staples, Inc. (SPLS)
Cadence Capital Management LLC decreased its stake in Staples, Inc. (NASDAQ:SPLS) by 28.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 105,081 shares of the specialty retailer’s stock after selling 40,949 shares during the period. Cadence Capital Management LLC’s holdings in Staples were worth $1,058,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ballentine Partners LLC raised its position in shares of Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 50 shares during the period. Concert Wealth Management Inc. raised its position in shares of 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 period. Cleararc Capital Inc. raised its position in shares of Staples by 0.5% in the first quarter. Cleararc Capital Inc. now owns 15,885 shares of the specialty retailer’s stock valued at $139,000 after buying an additional 85 shares during the period. CIBC Asset Management Inc raised its position in shares of Staples by 0.3% in the second quarter. CIBC Asset Management Inc now owns 73,643 shares of the specialty retailer’s stock valued at $742,000 after buying an additional 203 shares during the period. Finally, Advantus Capital Management Inc raised its position in shares of Staples by 0.6% in the first quarter. Advantus Capital Management Inc now owns 65,306 shares of the specialty retailer’s stock valued at $573,000 after buying an additional 407 shares during the period. Institutional investors and hedge funds own 90.62% of the company’s stock.
Shares of Staples, Inc. (NASDAQ SPLS) opened at 10.22 on Friday. Staples, Inc. has a one year low of $7.24 and a one year high of $10.25. The company has a 50 day moving average price of $10.15 and a 200-day moving average price of $9.45. The stock’s market cap is $6.71 billion.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Loop Capital restated a “hold” rating and set a $5.00 target price on shares of Staples in a research report on Friday, May 19th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, May 16th. BidaskClub upgraded Staples from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Telsey Advisory Group boosted their target price on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Finally, Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a research report on Monday, May 15th. One investment 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 stock currently has an average rating of “Hold” and an average target price of $9.04.
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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