CIBC Asset Management Inc Boosts Stake in Staples, Inc. (SPLS)

CIBC Asset Management Inc increased its stake in Staples, Inc. (NASDAQ:SPLS) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,643 shares of the specialty retailer’s stock after buying an additional 203 shares during the period. CIBC Asset Management Inc’s holdings in Staples were worth $742,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Concert Wealth Management Inc. increased its stake 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. increased its stake 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. Advantus Capital Management Inc increased its stake 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. Louisiana State Employees Retirement System increased its stake in shares of Staples by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the specialty retailer’s stock valued at $408,000 after buying an additional 500 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Staples by 2.9% in the first quarter. Venturi Wealth Management LLC now owns 20,280 shares of the specialty retailer’s stock valued at $195,000 after buying an additional 580 shares during the period. Hedge funds and other institutional investors own 90.62% of the company’s stock.

Staples, Inc. (NASDAQ:SPLS) opened at 10.21 on Tuesday. The stock’s 50 day moving average is $10.07 and its 200 day moving average is $9.39. The company’s market capitalization is $6.67 billion. Staples, Inc. has a one year low of $7.24 and a one year high of $10.25.

Staples (NASDAQ:SPLS) last announced its quarterly earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. Staples’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. On average, analysts anticipate that Staples, Inc. will post $0.88 earnings per share for the current fiscal year.

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Several equities research analysts have issued reports on the stock. Loop Capital restated a “hold” rating and set a $5.00 price objective 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 downgraded shares of Staples from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Telsey Advisory Group raised their price objective on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Finally, Deutsche Bank AG set a $8.00 price objective on shares of Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.18.

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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