LS Investment Advisors LLC Raises Stake in Staples, Inc. (SPLS)

LS Investment Advisors LLC increased its position in Staples, Inc. (NASDAQ:SPLS) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,332 shares of the specialty retailer’s stock after buying an additional 2,135 shares during the period. LS Investment Advisors LLC’s holdings in Staples were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SPLS. BlackRock Inc. increased its position in Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock worth $420,078,000 after buying an additional 46,465,935 shares during the last quarter. Oldfield Partners LLP acquired a new position in shares of Staples during the first quarter worth $124,653,000. Dimensional Fund Advisors LP increased its position in shares of Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock worth $132,163,000 after buying an additional 4,930,604 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Staples by 124.3% in the first quarter. Prudential Financial Inc. now owns 6,124,831 shares of the specialty retailer’s stock worth $53,715,000 after buying an additional 3,393,950 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 worth $572,485,000 after buying an additional 3,047,800 shares in the last quarter. 90.62% of the stock is owned by institutional investors.

Shares of Staples, Inc. (NASDAQ SPLS) opened at 10.19 on Friday. The firm has a 50-day moving average of $10.14 and a 200-day moving average of $9.41. The company’s market capitalization is $6.66 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 earnings results on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Staples had a negative net margin of 12.51% and a positive return on equity of 14.07%. The firm had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the company posted $0.17 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. Analysts forecast that Staples, Inc. will post $0.88 earnings per share for the current year.

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A number of equities analysts have weighed in on SPLS shares. BidaskClub downgraded shares of Staples from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research cut shares of Staples from a “hold” rating to a “sell” rating in a report on Wednesday. Deutsche Bank AG set a $8.00 price target on shares of Staples and gave the company a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Finally, Loop Capital restated a “hold” rating and issued a $5.00 target price on shares of Staples in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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