Stelliam Investment Management Lp Lowers stake in Staples (SPLS)

Staples (SPLS) : Stelliam Investment Management Lp reduced its stake in Staples by 44.03% during the most recent quarter end. The investment management company now holds a total of 8,265,000 shares of Staples which is valued at $75,955,350 after selling 6,502,500 shares in Staples , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Staples makes up approximately 2.64% of Stelliam Investment Management Lp’s portfolio.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc boosted its stake in SPLS in the latest quarter, The investment management firm added 13,200 additional shares and now holds a total of 134,000 shares of Staples which is valued at $1,231,460. Staples makes up approx 0.02% of Jacobs Levy Equity Management Inc’s portfolio.Janus Capital Management reduced its stake in SPLS by selling 650,059 shares or 26.93% in the most recent quarter. The Hedge Fund company now holds 1,763,500 shares of SPLS which is valued at $16,206,565. Staples makes up approx 0.01% of Janus Capital Management’s portfolio.Pacad Investment Ltd. reduced its stake in SPLS by selling 72,563 shares or 64.29% in the most recent quarter. The Hedge Fund company now holds 40,300 shares of SPLS which is valued at $370,357. Staples makes up approx 0.05% of Pacad Investment Ltd.’s portfolio.Fuller Thaler Asset Management boosted its stake in SPLS in the latest quarter, The investment management firm added 27,900 additional shares and now holds a total of 38,800 shares of Staples which is valued at $356,184. Staples makes up approx 0.01% of Fuller Thaler Asset Management’s portfolio.

Staples closed down -0.05 points or -0.58% at $8.51 with 47,73,661 shares getting traded on Thursday. Post opening the session at $8.59, the shares hit an intraday low of $8.43 and an intraday high of $8.635 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Many Wall Street Analysts have commented on Staples. Staples was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016.

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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