Nisa Investment Advisors LLC increased its stake in Office Depot Inc (NASDAQ:ODP) by 568.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 323,340 shares of the specialty retailer’s stock after buying an additional 275,000 shares during the quarter. Nisa Investment Advisors LLC owned about 0.06% of Office Depot worth $666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisor Partners LLC bought a new stake in Office Depot in the first quarter worth $36,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Office Depot during the first quarter worth $49,000. HRT Financial LLC bought a new stake in shares of Office Depot during the fourth quarter worth $50,000. Cleararc Capital Inc. bought a new stake in shares of Office Depot during the first quarter worth $50,000. Finally, Actinver Wealth Management Inc. bought a new stake in shares of Office Depot during the fourth quarter worth $63,000. Institutional investors own 89.75% of the company’s stock.

Shares of ODP stock traded up $0.02 on Tuesday, hitting $1.95. The stock had a trading volume of 132,783 shares, compared to its average volume of 3,936,803. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 1.08. The business has a 50 day moving average price of $2.02. The company has a market capitalization of $1.07 billion, a P/E ratio of 5.54, a PEG ratio of 0.49 and a beta of 2.35. Office Depot Inc has a one year low of $1.83 and a one year high of $3.82.

Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.76 billion. Office Depot had a return on equity of 8.95% and a net margin of 0.64%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. On average, research analysts predict that Office Depot Inc will post 0.34 earnings per share for the current fiscal year.

ODP has been the subject of several research analyst reports. Bank of America initiated coverage on Coty in a research report on Thursday, May 9th. They set a “neutral” rating and a $12.00 target price for the company. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, BidaskClub upgraded Xilinx from a “hold” rating to a “buy” rating in a research report on Saturday, June 29th. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus target price of $3.08.

Office Depot Company Profile

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

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

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