Ropes Wealth Advisors LLC Boosts Holdings in Staples, Inc. (SPLS)

Ropes Wealth Advisors LLC raised its stake in Staples, Inc. (NASDAQ:SPLS) by 33.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,241 shares of the specialty retailer’s stock after acquiring an additional 28,246 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Staples were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stephens Inc. AR increased its position in Staples by 6.8% in the 1st quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock valued at $102,000 after acquiring an additional 744 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Staples in the 1st quarter valued at about $102,000. Ballentine Partners LLC increased its position in Staples by 0.5% in the 2nd quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after acquiring an additional 50 shares in the last quarter. Concert Wealth Management Inc. increased its position in Staples by 0.7% in the 1st quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 82 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in Staples in the 2nd quarter valued at about $109,000. Hedge funds and other institutional investors own 85.56% of the company’s stock.

Shares of Staples, Inc. (NASDAQ SPLS) traded up 0.10% on Friday, hitting $10.25. 9,785,997 shares of the stock traded hands. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.26. The stock has a 50 day moving average of $10.21 and a 200-day moving average of $9.58. The stock’s market cap is $6.73 billion.

Staples (NASDAQ:SPLS) last issued its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.87 billion. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, equities research analysts expect that Staples, Inc. will post $0.86 EPS for the current year.

SPLS has been the subject of several research reports. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC restated a “hold” rating and issued a $9.00 price objective on shares of Staples in a research report on Wednesday, August 9th. Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the company a “hold” rating in a research report on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.04.

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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.

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Institutional Ownership by Quarter for Staples (NASDAQ:SPLS)

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