Fairpointe Capital LLC Trims Stake in Staples, Inc. (SPLS)

Fairpointe Capital LLC lessened its holdings in shares of Staples, Inc. (NASDAQ:SPLS) by 49.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 796,400 shares of the specialty retailer’s stock after selling 782,050 shares during the quarter. Fairpointe Capital LLC owned about 0.12% of Staples worth $8,020,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SPLS. Stephens Inc. AR increased its stake in shares of Staples by 6.8% during the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock worth $102,000 after buying an additional 744 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Staples during the first quarter worth approximately $102,000. Ballentine Partners LLC increased its stake in shares of Staples by 0.5% during the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after buying an additional 50 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Staples during the second quarter worth approximately $109,000. Finally, Airain ltd purchased a new stake in shares of Staples during the second quarter worth approximately $109,000. 85.56% of the stock is currently owned by institutional investors and hedge funds.

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

Staples (NASDAQ:SPLS) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a return on equity of 7.49% and a net margin of 1.61%. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $0.12 EPS. Staples’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that Staples, Inc. will post $0.86 EPS for the current fiscal year.

A number of analysts recently weighed in on SPLS shares. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. BidaskClub lowered shares of Staples from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Telsey Advisory Group upped their target price on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Staples presently has a consensus rating of “Hold” and a consensus target price of $8.85.

COPYRIGHT VIOLATION NOTICE: “Fairpointe Capital LLC Trims Stake in Staples, Inc. (SPLS)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/10/fairpointe-capital-llc-trims-stake-in-staples-inc-spls.html.

Staples Company Profile

Staples, Inc (

Several other institutional investors and hedge funds have also modified their holdings of SPLS. Stephens Inc. AR increased its stake in shares of Staples by 6.8% during the first quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock worth $102,000 after buying an additional 744 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Staples during the first quarter worth approximately $102,000. Ballentine Partners LLC increased its stake in shares of Staples by 0.5% during the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after buying an additional 50 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Staples during the second quarter worth approximately $109,000. Finally, Airain ltd purchased a new stake in shares of Staples during the second quarter worth approximately $109,000. 85.56% of the stock is currently owned by institutional investors and hedge funds.

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

Staples (NASDAQ:SPLS) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.12. Staples had a return on equity of 7.49% and a net margin of 1.61%. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $0.12 EPS. Staples’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that Staples, Inc. will post $0.86 EPS for the current fiscal year.

A number of analysts recently weighed in on SPLS shares. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. BidaskClub lowered shares of Staples from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Telsey Advisory Group upped their target price on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Staples presently has a consensus rating of “Hold” and a consensus target price of $8.85.

COPYRIGHT VIOLATION NOTICE: “Fairpointe Capital LLC Trims Stake in Staples, Inc. (SPLS)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The original version of this piece of content can be read at https://ledgergazette.com/2017/10/10/fairpointe-capital-llc-trims-stake-in-staples-inc-spls.html.

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.

Institutional Ownership by Quarter for Staples (NASDAQ:SPLS)

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