Paulson & CO. Inc. Sells 1,660,200 Shares of Office Depot, Inc. (ODP)
Paulson & CO. Inc. cut its holdings in shares of Office Depot, Inc. (NASDAQ:ODP) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,603,900 shares of the specialty retailer’s stock after selling 1,660,200 shares during the period. Office Depot makes up 1.0% of Paulson & CO. Inc.’s holdings, making the stock its 28th biggest holding. Paulson & CO. Inc. owned 2.43% of Office Depot worth $71,086,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of ODP. Ameriprise Financial Inc. increased its position in shares of Office Depot by 0.9% during the first quarter. Ameriprise Financial Inc. now owns 1,382,716 shares of the specialty retailer’s stock worth $6,450,000 after acquiring an additional 12,320 shares in the last quarter. State of Tennessee Treasury Department purchased a new position in Office Depot during the first quarter worth about $239,000. Envestnet Asset Management Inc. boosted its holdings in Office Depot by 8.2% during the first quarter. Envestnet Asset Management Inc. now owns 25,558 shares of the specialty retailer’s stock worth $119,000 after purchasing an additional 1,927 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Office Depot by 0.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 31,136 shares of the specialty retailer’s stock worth $145,000 after purchasing an additional 175 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Office Depot during the first quarter worth about $124,000. 94.36% of the stock is owned by institutional investors.
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Office Depot, Inc. (NASDAQ:ODP) traded up 0.26% on Tuesday, reaching $3.79. 1,834,723 shares of the company’s stock were exchanged. Office Depot, Inc. has a 52-week low of $3.01 and a 52-week high of $6.26. The company has a market cap of $1.96 billion, a PE ratio of 4.91 and a beta of 2.89. The firm’s 50 day moving average price is $4.25 and its 200 day moving average price is $4.96.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. On average, analysts expect that Office Depot, Inc. will post $0.46 earnings per share for the current year.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Bank of America Corporation restated a “buy” rating and set a $6.00 price target on shares of Office Depot in a report on Tuesday, September 5th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Office Depot in a report on Wednesday, July 12th. BidaskClub cut shares of Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Finally, Deutsche Bank AG restated a “hold” rating and set a $5.00 price target (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.08.
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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