Nisa Investment Advisors LLC Has $160,000 Position in Office Depot, Inc. (ODP)
Nisa Investment Advisors LLC maintained its stake in Office Depot, Inc. (NASDAQ:ODP) during the second quarter, Holdings Channel reports. The institutional investor owned 30,860 shares of the specialty retailer’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Office Depot were worth $160,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Office Depot by 15,485.9% in the first quarter. BlackRock Inc. now owns 54,498,187 shares of the specialty retailer’s stock valued at $254,234,000 after buying an additional 54,148,524 shares in the last quarter. Vanguard Group Inc. raised its stake in Office Depot by 4.9% in the first quarter. Vanguard Group Inc. now owns 43,054,694 shares of the specialty retailer’s stock valued at $200,850,000 after buying an additional 1,995,980 shares in the last quarter. Fairpointe Capital LLC raised its stake in Office Depot by 4.4% in the first quarter. Fairpointe Capital LLC now owns 33,020,004 shares of the specialty retailer’s stock valued at $154,039,000 after buying an additional 1,383,233 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Office Depot by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 32,171,818 shares of the specialty retailer’s stock valued at $150,082,000 after buying an additional 2,057,459 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Office Depot by 28.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,351,548 shares of the specialty retailer’s stock valued at $132,259,000 after buying an additional 6,324,791 shares in the last quarter. Institutional investors own 93.33% of the company’s stock.
Shares of Office Depot, Inc. (NASDAQ ODP) traded up 2.12% during mid-day trading on Wednesday, hitting $4.34. 2,348,876 shares of the stock traded hands. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 5.62 and a beta of 2.98. The firm’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.04. Office Depot, Inc. has a 12-month low of $3.01 and a 12-month high of $6.26.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, equities research analysts predict that Office Depot, Inc. will post $0.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued 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 2.35%. Office Depot’s dividend payout ratio is presently 20.00%.
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ODP has been the topic of several analyst reports. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Office Depot in a research report on Tuesday, May 9th. BidaskClub lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Wednesday, May 10th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Office Depot in a research report on Wednesday, July 12th. Finally, Deutsche Bank AG restated a “hold” rating and set a $5.00 price target (down previously from $5.75) on shares of Office Depot in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.10.
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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