Funds, Insiders and Big Financial Firms Are Betting on Staples, Inc. (SPLS)

Over the past few weeks, Staples, Inc. (NASDAQ:SPLS), the $7.83 billion market cap famed office products company, saw two insiders buy its stock. Most recently (April 3rd), Ronald Sargent Chief Executive Officer and Chairman of the Board, acquired 8,500 shares of the company, for prices ranging from $11.79 to $11.85 per share (about $11.82 per share, in average). Following the reported transaction, Mr. Sargent declared to own more than 1.64 million shares indirectly, plus 558,011 shares, directly. His stakes at the company are now worth more than $26 million.

The other insider that bought the stock lately is Shira Goodman, President at the company’s North American Commercial (NAC) segment. On March 20th, Mrs. Goodman acquired 5,000 shares of Common Stock for $11.436 per share. Her holdings now amount to 80,607 shares held through a trust and an extra 64,577 shares, held directly.

Staples, Inc. (NASDAQ:SPLS)

However, it is not only insiders that are betting on Staples, Inc. (NASDAQ:SPLS). More than 40 of the major hedge funds that we keep track of hold long positions in the company. I should highlight Richard S. Pzena‘s Pzena Investment Management, which owns more than 29 million shares of the company, and Ric Dillon‘s Diamond Hill Capital, which recently upped its stakes by 2%, to more than 8 million shares.  Furthermore, Russell Hawkins‘ Hawkins Capital holds about 6.5 million shares of the company, which account for roughly 13.5% of the total value of its equity portfolio.

Other prominent investors with millionaire stakes in the company that are worth mentioning are Ken Griffin, Chuck Royce and Jim Simons. Moreover, BlackRock, Inc. (NYSE:BLK), a $52 billion market cap investment management firm, recently disclosed holding more than 54 million shares of the company. Vanguard Group Inc., the world’s largest mutual fund company, with about $2.4 trillion invested in the U.S. in more than 170 index, active, and exchange-traded funds, also recently declared holding more than 44 million shares of the company. Finally, FMR LLC, a financial services conglomerate that which owns Fidelity Investments, one of the world’s largest mutual fund firms, and manages nearly 500 funds (boasting some $4.2 trillion in assets under administration, including managed assets of $1.8 trillion), recently increased its stakes by almost 2 million shares, to roughly 59 million.

Although the company boasts on-average margins and returns and its growth prospects are not so attractive, its valuation at 11.4 times the company’s earnings (less than 1/3 of its industry´s average valuation), low debt levels, 3.95% dividend yield and somewhat stable (established, industry leading) business make all of the aforementioned investments comprehensible.

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

Hedge Funds Interested in Staples Inc. (SPLS)

Criterion Capital Ups Stake in Veeva Systems Inc (VEEV)

Stay Away From Stephen Mandel’s Top Stock Picks

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!