Office Depot, Inc. (ODP) Shares Bought by Commonwealth Bank of Australia
Commonwealth Bank of Australia increased its position in Office Depot, Inc. (NASDAQ:ODP) by 318.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 593,800 shares of the specialty retailer’s stock after purchasing an additional 451,900 shares during the quarter. Commonwealth Bank of Australia owned approximately 0.12% of Office Depot worth $2,691,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Pacad Investment Ltd. raised its holdings in shares of Office Depot by 1,292.3% in the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 16,800 shares during the period. Eagle Global Advisors LLC bought a new stake in shares of Office Depot in the 2nd quarter valued at about $103,000. PNC Financial Services Group Inc. raised its holdings in shares of Office Depot by 13.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 2,187 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Office Depot in the 2nd quarter valued at about $105,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Office Depot in the 2nd quarter valued at about $109,000. 93.29% of the stock is currently owned by institutional investors.
In other Office Depot news, insider Michael R. Allison sold 360,000 shares of the 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 is available through this link. 2.43% of the stock is owned by corporate insiders.
ODP has been the topic of several research analyst reports. J P Morgan Chase & Co cut shares of Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. ValuEngine cut shares of Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut shares of Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Bank of America reissued a “buy” rating and issued a $6.00 price target on shares of Office Depot in a report on Tuesday, September 5th. Finally, Jefferies Group reissued a “hold” rating and issued a $4.15 price target (down from $5.00) on shares of Office Depot in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Office Depot presently has a consensus rating of “Hold” and an average price target of $5.08.
Office Depot, Inc. (ODP) opened at $3.21 on Friday. The firm has a market cap of $1,687.71, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.87. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 0.51. Office Depot, Inc. has a fifty-two week low of $2.97 and a fifty-two week high of $6.26.
Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. The business’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. equities research analysts anticipate that Office Depot, Inc. will post 0.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a $0.025 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.10 annualized dividend and a yield of 3.12%. Office Depot’s dividend payout ratio is currently 16.95%.
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About Office Depot
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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