Burren Capital Advisors Ltd bought a new stake in Staples, Inc. (NASDAQ:SPLS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 152,200 shares of the specialty retailer’s stock, valued at approximately $1,533,000. Staples comprises approximately 9.3% of Burren Capital Advisors Ltd’s investment portfolio, making the stock its 6th largest position.
Several other hedge funds have also recently made changes to their positions in SPLS. BlackRock Inc. raised its holdings in shares of Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after purchasing an additional 46,465,935 shares during the last quarter. CNH Partners LLC purchased a new stake in shares of Staples in the second quarter valued at about $63,079,000. Quinn Opportunity Partners LLC raised its holdings in shares of Staples by 3,854.3% in the second quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock valued at $55,675,000 after purchasing an additional 5,388,948 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock valued at $132,163,000 after purchasing an additional 4,930,604 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Staples by 15.1% in the second quarter. FMR LLC now owns 35,888,851 shares of the specialty retailer’s stock valued at $361,400,000 after purchasing an additional 4,708,987 shares during the last quarter. Institutional investors own 85.56% of the company’s stock.
Staples, Inc. (SPLS) traded up 0.10% during trading on Tuesday, hitting $10.25. 9,785,997 shares of the stock traded hands. The firm has a 50-day moving average price of $10.21 and a 200 day moving average price of $9.58. The company’s market cap is $6.73 billion. Staples, Inc. has a 52-week low of $7.24 and a 52-week high of $10.26.
Staples (NASDAQ:SPLS) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Staples had a net margin of 1.61% and a return on equity of 7.49%. The firm 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 firm earned $0.12 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts expect that Staples, Inc. will post $0.86 EPS for the current year.
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A number of analysts recently issued reports on SPLS shares. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Jefferies Group LLC restated a “hold” rating and set a $9.00 price objective on shares of Staples in a report on Wednesday, August 9th. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the stock a “hold” rating in a report on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.85.
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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