Cornerstone Investment Partners Lowers stake in Staples (SPLS)

Staples (SPLS) : Cornerstone Investment Partners reduced its stake in Staples by 3.68% during the most recent quarter end. The investment management company now holds a total of 86,277 shares of Staples which is valued at $660,019 after selling 3,300 shares in Staples , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Staples makes up approximately 0.03% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in SPLS by selling 922 shares or 7.86% in the most recent quarter. The Hedge Fund company now holds 10,814 shares of SPLS which is valued at $82,727.First Mercantile Trust Co reduced its stake in SPLS by selling 3,950 shares or 10.41% in the most recent quarter. The Hedge Fund company now holds 34,000 shares of SPLS which is valued at $273,020. Staples makes up approx 0.04% of First Mercantile Trust Co’s portfolio.Chevy Chase Trust Holdings reduced its stake in SPLS by selling 9,342 shares or 1.69% in the most recent quarter. The Hedge Fund company now holds 542,756 shares of SPLS which is valued at $4,472,309. Staples makes up approx 0.02% of Chevy Chase Trust Holdings’s portfolio.

Staples closed down -0.29 points or -3.60% at $7.76 with 1,32,11,295 shares getting traded on Tuesday. Post opening the session at $8.04, the shares hit an intraday low of $7.67 and an intraday high of $8.08 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Staples reported $0.12 EPS for the quarter, based on the information available during the earnings call on Aug 17, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $4752.00 million for the quarter, compared to analysts expectations of $4762.00 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.12 EPS.

Staples Inc. is a provider of products and services that serve the needs of business customers and consumers. The Company offers a selection of products such as Websites and mobile platforms retail and online shopping and a range of copy and print and technology services. It operates in three business segments: North American Stores & Online North American Commercial and International Operations. The North American Stores & Online segment includes its retail stores and Staples.com businesses in the United States and Canada. The North American Commercial segment consists of the United States and Canadian businesses that sell and deliver products and services directly to businesses including Staples Advantage and Quill.com. The International Operations segment consists of businesses in around 23 countries in Europe Australia South America and Asia. It serves businesses in North America Europe Australia South America and Asia. Its delivery business offers online order placing.

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