Banco BTG Pactual S.A. Invests $10.05 Million in Staples, Inc. (SPLS) Stock

Banco BTG Pactual S.A. purchased a new position in shares of Staples, Inc. (NASDAQ:SPLS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 998,000 shares of the specialty retailer’s stock, valued at approximately $10,050,000. Staples accounts for approximately 3.5% of Banco BTG Pactual S.A.’s holdings, making the stock its 6th largest holding. Banco BTG Pactual S.A. owned 0.15% of Staples as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Staples by 2.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,056,584 shares of the specialty retailer’s stock worth $10,640,000 after buying an additional 29,437 shares during the period. Flippin Bruce & Porter Inc. increased its position in Staples by 3.0% during the second quarter. Flippin Bruce & Porter Inc. now owns 654,201 shares of the specialty retailer’s stock worth $6,588,000 after buying an additional 19,095 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in Staples during the second quarter worth approximately $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Staples by 448.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 264,526 shares of the specialty retailer’s stock worth $2,664,000 after buying an additional 216,269 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Staples during the second quarter worth approximately $1,246,000. 85.56% of the stock is currently owned by institutional investors.

SPLS has been the topic of several research analyst reports. Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. BidaskClub raised Staples from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price target on shares of Staples in a research report on Wednesday, August 9th. Deutsche Bank AG set a $8.00 price target on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.85.

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

Staples (NASDAQ:SPLS) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Staples had a return on equity of 7.49% and a net margin of 1.61%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. Equities analysts forecast that Staples, Inc. will post $0.86 EPS for the current year.

Staples Company Pr

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Staples by 2.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,056,584 shares of the specialty retailer’s stock worth $10,640,000 after buying an additional 29,437 shares during the period. Flippin Bruce & Porter Inc. increased its position in Staples by 3.0% during the second quarter. Flippin Bruce & Porter Inc. now owns 654,201 shares of the specialty retailer’s stock worth $6,588,000 after buying an additional 19,095 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in Staples during the second quarter worth approximately $1,159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Staples by 448.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 264,526 shares of the specialty retailer’s stock worth $2,664,000 after buying an additional 216,269 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Staples during the second quarter worth approximately $1,246,000. 85.56% of the stock is currently owned by institutional investors.

SPLS has been the topic of several research analyst reports. Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. BidaskClub raised Staples from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $9.00 price target on shares of Staples in a research report on Wednesday, August 9th. Deutsche Bank AG set a $8.00 price target on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Staples in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $8.85.

COPYRIGHT VIOLATION WARNING: This article was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/10/banco-btg-pactual-s-a-invests-10-05-million-in-staples-inc-spls-stock.html.

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

Staples (NASDAQ:SPLS) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Staples had a return on equity of 7.49% and a net margin of 1.61%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. Equities analysts forecast that Staples, Inc. will post $0.86 EPS for the current year.

Staples Company Profile

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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