CNA Financial Corp Boosts Holdings in Staples, Inc. (SPLS)

CNA Financial Corp raised its position in shares of Staples, Inc. (NASDAQ:SPLS) by 94.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 428,878 shares of the specialty retailer’s stock after acquiring an additional 208,225 shares during the quarter. Staples makes up approximately 1.0% of CNA Financial Corp’s holdings, making the stock its 23rd largest position. CNA Financial Corp owned 0.07% of Staples worth $4,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Staples by 54.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 20,297 shares of the specialty retailer’s stock valued at $204,000 after purchasing an additional 7,187 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Staples during the second quarter valued at approximately $3,449,000. Alliancebernstein L.P. lifted its holdings in shares of Staples by 4.7% during the second quarter. Alliancebernstein L.P. now owns 1,254,826 shares of the specialty retailer’s stock valued at $12,636,000 after purchasing an additional 56,285 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of Staples by 21.7% during the second quarter. Aberdeen Asset Management PLC UK now owns 1,223,722 shares of the specialty retailer’s stock valued at $12,324,000 after purchasing an additional 218,200 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Staples by 106.8% during the second quarter. Franklin Resources Inc. now owns 29,658 shares of the specialty retailer’s stock valued at $299,000 after purchasing an additional 15,316 shares during the last quarter. 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 Monday, reaching $10.25. 5,263,394 shares of the company were exchanged. Staples, Inc. has a 1-year low of $7.24 and a 1-year high of $10.25. The company’s 50-day moving average is $10.19 and its 200 day moving average is $9.52. The firm’s market capitalization is $6.73 billion.

Staples (NASDAQ:SPLS) last posted its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Staples had a negative net margin of 8.53% and a positive return on equity of 15.09%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. Equities research analysts expect that Staples, Inc. will post $0.87 EPS for the current fiscal year.

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Several equities analysts have recently issued reports on SPLS shares. BidaskClub upgraded shares of Staples from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Deutsche Bank AG set a $8.00 target price on shares of Staples and gave the company a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Finally, Loop Capital reiterated a “hold” rating and set a $5.00 target price on shares of Staples in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.04.

Staples 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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