DekaBank Deutsche Girozentrale Takes $904,000 Position in Office Depot, Inc. (ODP)
DekaBank Deutsche Girozentrale purchased a new position in Office Depot, Inc. (NASDAQ:ODP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 209,741 shares of the specialty retailer’s stock, valued at approximately $904,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacad Investment Ltd. grew its holdings in Office Depot by 1,292.3% during the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after acquiring an additional 16,800 shares in the last quarter. Eagle Global Advisors LLC bought a new position in Office Depot during the 2nd quarter worth about $103,000. PNC Financial Services Group Inc. grew its holdings in Office Depot by 13.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after acquiring an additional 2,187 shares in the last quarter. Bayesian Capital Management LP bought a new position in Office Depot during the 2nd quarter worth about $105,000. Finally, Stratos Wealth Partners LTD. bought a new position in Office Depot during the 2nd quarter worth about $109,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.
In other news, insider Michael R. Allison sold 360,000 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $3.83, for a total value of $1,378,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.43% of the stock is currently owned by company insiders.
Several brokerages have issued reports on ODP. Zacks Investment Research cut shares of Office Depot from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Bank of America Corporation reiterated a “buy” rating on shares of Office Depot in a report on Sunday, August 13th. Deutsche Bank AG reiterated a “hold” rating and set a $5.00 target price (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Jefferies Group LLC reiterated a “hold” rating and set a $4.15 target price (down from $5.00) on shares of Office Depot in a report on Friday, October 6th. Finally, BidaskClub upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.08.
Office Depot, Inc. (NASDAQ ODP) opened at $3.18 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Office Depot, Inc. has a 1-year low of $2.97 and a 1-year high of $6.26. The stock has a market cap of $1,677.38, a PE ratio of 6.91, a price-to-earnings-growth ratio of 1.02 and a beta of 2.82.
Office Depot (NASDAQ:ODP) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business earned $0.16 EPS. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. equities analysts anticipate that Office Depot, Inc. will post 0.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, November 22nd. Office Depot’s dividend payout ratio is currently 16.95%.
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Office Depot Company Profile
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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