Geneva Advisors LLC bought a new position in Office Depot, Inc. (NASDAQ:ODP) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 115,609 shares of the specialty retailer’s stock, valued at approximately $652,000.

Several other institutional investors have also made changes to their positions in the company. RWC Asset Management LLP increased its position in shares of Office Depot by 73.7% in the first quarter. RWC Asset Management LLP now owns 245,730 shares of the specialty retailer’s stock worth $1,146,000 after buying an additional 104,279 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Office Depot by 7.0% in the first quarter. Thrivent Financial For Lutherans now owns 97,640 shares of the specialty retailer’s stock worth $455,000 after buying an additional 6,360 shares during the last quarter. Paloma Partners Management Co increased its position in shares of Office Depot by 131.3% in the first quarter. Paloma Partners Management Co now owns 167,964 shares of the specialty retailer’s stock worth $783,000 after buying an additional 95,336 shares during the last quarter. Cigna Investments Inc. New increased its position in shares of Office Depot by 106.8% in the second quarter. Cigna Investments Inc. New now owns 41,203 shares of the specialty retailer’s stock worth $232,000 after buying an additional 21,276 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Office Depot during the first quarter worth $280,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Office Depot, Inc. (NASDAQ:ODP) opened at 4.18 on Wednesday. The stock has a market cap of $2.17 billion, a P/E ratio of 5.41 and a beta of 2.98. The company has a 50-day moving average price of $5.26 and a 200 day moving average price of $5.02. Office Depot, Inc. has a 1-year low of $3.01 and a 1-year high of $6.26.

Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.03. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.44 billion. Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. Equities analysts expect that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.39%. Office Depot’s payout ratio is currently 20.00%.

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ODP has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Office Depot from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. BidaskClub upgraded Office Depot from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Deutsche Bank AG restated a “hold” rating and issued a $5.00 target price (down previously from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. Bank of America Corporation restated a “buy” rating on shares of Office Depot in a research note on Sunday, August 13th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Office Depot in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.25.

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.

Institutional Ownership by Quarter for Office Depot (NASDAQ:ODP)

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