GSA Capital Partners LLP Buys New Stake in Office Depot Inc (ODP)
GSA Capital Partners LLP bought a new position in Office Depot Inc (NASDAQ:ODP) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 475,090 shares of the specialty retailer’s stock, valued at approximately $1,021,000.
A number of other large investors have also modified their holdings of the stock. BlackRock Inc. increased its position in shares of Office Depot by 1.4% in the first quarter. BlackRock Inc. now owns 54,261,672 shares of the specialty retailer’s stock valued at $116,663,000 after acquiring an additional 751,608 shares during the period. Lee Thomas H Partners LP purchased a new position in shares of Office Depot in the fourth quarter valued at about $150,438,000. Dimensional Fund Advisors LP increased its position in shares of Office Depot by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 38,262,851 shares of the specialty retailer’s stock valued at $82,265,000 after acquiring an additional 783,529 shares during the period. Fairpointe Capital LLC increased its position in shares of Office Depot by 1.6% in the fourth quarter. Fairpointe Capital LLC now owns 31,121,730 shares of the specialty retailer’s stock valued at $110,171,000 after acquiring an additional 502,524 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Office Depot by 5.7% in the first quarter. JPMorgan Chase & Co. now owns 12,835,911 shares of the specialty retailer’s stock valued at $27,598,000 after acquiring an additional 686,633 shares during the period. Institutional investors own 89.77% of the company’s stock.
In other Office Depot news, CFO Joseph T. Lower acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were acquired at an average price of $2.39 per share, with a total value of $47,800.00. Following the completion of the purchase, the chief financial officer now directly owns 872,552 shares of the company’s stock, valued at approximately $2,085,399.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph Vassalluzzo acquired 58,800 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were acquired at an average cost of $2.55 per share, for a total transaction of $149,940.00. Following the purchase, the chairman now directly owns 143,834 shares of the company’s stock, valued at $366,776.70. The disclosure for this purchase can be found here. Insiders have purchased 88,800 shares of company stock worth $221,640 in the last three months. 2.18% of the stock is currently owned by insiders.
Office Depot (NASDAQ:ODP) last announced its earnings results on Wednesday, May 9th. The specialty retailer reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.74 billion. Office Depot had a net margin of 1.01% and a return on equity of 9.60%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. research analysts expect that Office Depot Inc will post 0.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, May 24th. Office Depot’s payout ratio is currently 22.22%.
ODP has been the topic of a number of analyst reports. ValuEngine cut shares of Office Depot from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st. BidaskClub lowered shares of Office Depot from a “sell” rating to a “strong sell” rating in a research note on Friday, March 2nd. Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Finally, Bank of America reaffirmed a “buy” rating and set a $3.00 target price on shares of Office Depot in a research note on Thursday, May 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $3.93.
Office Depot Company Profile
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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