Diamond Hill Capital Management Inc. Has $52.68 Million Position in Staples, Inc. (SPLS)

Diamond Hill Capital Management Inc. decreased its position in shares of Staples, Inc. (NASDAQ:SPLS) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,230,965 shares of the specialty retailer’s stock after selling 62,982 shares during the period. Diamond Hill Capital Management Inc. owned about 0.80% of Staples worth $52,676,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Staples by 4.9% in the first quarter. Vanguard Group Inc. now owns 65,277,605 shares of the specialty retailer’s stock valued at $572,485,000 after buying an additional 3,047,800 shares during the last quarter. BlackRock Inc. boosted its stake 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 buying an additional 46,465,935 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Staples by 9.8% in the first quarter. Schroder Investment Management Group now owns 33,605,835 shares of the specialty retailer’s stock valued at $293,715,000 after buying an additional 2,985,904 shares during the last quarter. FMR LLC boosted its stake in shares of Staples by 4.5% in the first quarter. FMR LLC now owns 31,179,864 shares of the specialty retailer’s stock valued at $273,447,000 after buying an additional 1,346,412 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Staples by 1.4% in the first quarter. State Street Corp now owns 29,559,253 shares of the specialty retailer’s stock valued at $259,230,000 after buying an additional 416,843 shares in the last quarter. 90.62% of the stock is owned by institutional investors.

Staples, Inc. (SPLS) opened at 10.19 on Friday. The stock’s market cap is $6.66 billion. Staples, Inc. has a one year low of $7.24 and a one year high of $10.25. The company’s 50 day moving average is $10.14 and its 200 day moving average is $9.41.

Staples (NASDAQ:SPLS) last released its earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ 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 positive return on equity of 14.07% and a negative net margin of 12.51%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. On average, equities research analysts expect that Staples, Inc. will post $0.88 EPS for the current year.

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SPLS has been the topic of several recent research reports. 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. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a research note on Tuesday, June 20th. Loop Capital restated a “hold” rating and issued a $5.00 target price on shares of Staples in a research note on Friday, May 19th. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $9.00 price objective on shares of Staples in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.04.

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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