Whitebox Advisors LLC increased its stake in shares of Office Depot Inc. (NASDAQ:ODP) by 304.8% during the second quarter, Holdings Channel reports. The institutional investor owned 3,683,893 shares of the company’s stock after buying an additional 2,773,839 shares during the period. Office Depot accounts for approximately 0.3% of Whitebox Advisors LLC’s investment portfolio, making the stock its 28th largest position. Whitebox Advisors LLC’s holdings in Office Depot were worth $12,194,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Fairpointe Capital LLC increased its stake in Office Depot by 66.4% in the first quarter. Fairpointe Capital LLC now owns 18,738,829 shares of the company’s stock valued at $133,046,000 after buying an additional 7,477,358 shares during the last quarter. York Capital Management Global Advisors LLC increased its stake in Office Depot by 176.2% in the first quarter. York Capital Management Global Advisors LLC now owns 6,844,315 shares of the company’s stock valued at $48,595,000 after buying an additional 4,366,063 shares during the last quarter. Renaissance Technologies LLC increased its stake in Office Depot by 93.9% in the first quarter. Renaissance Technologies LLC now owns 3,043,296 shares of the company’s stock valued at $21,607,000 after buying an additional 1,473,696 shares during the last quarter. Geode Capital Management LLC increased its stake in Office Depot by 9.2% in the first quarter. Geode Capital Management LLC now owns 3,673,356 shares of the company’s stock valued at $26,080,000 after buying an additional 308,222 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Office Depot during the second quarter valued at approximately $1,008,000. Hedge funds and other institutional investors own 92.72% of the company’s stock.
Office Depot Inc. (NASDAQ:ODP) traded down 1.12% on Thursday, hitting $3.52. 7,991,593 shares of the stock were exchanged. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 7.23 and a beta of 2.78. The company has a 50-day moving average of $3.64 and a 200-day moving average of $4.42. Office Depot Inc. has a 12 month low of $3.11 and a 12 month high of $7.99.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.03. Office Depot had a net margin of 1.99% and a return on equity of 12.05%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the business earned $0.06 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. On average, equities analysts predict that Office Depot Inc. will post $0.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 2.84%. Office Depot’s dividend payout ratio (DPR) is currently 20.00%.
ODP has been the subject of several recent research reports. TheStreet raised shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Zacks Investment Research raised shares of Office Depot from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research report on Tuesday, July 19th. Finally, Morgan Stanley reissued a “hold” rating and set a $4.35 target price on shares of Office Depot in a research report on Tuesday, August 16th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Office Depot has a consensus rating of “Hold” and a consensus price target of $5.69.
In other Office Depot news, EVP Michael R. Allison sold 23,434 shares of Office Depot stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $3.64, for a total value of $85,299.76. Following the completion of the transaction, the executive vice president now directly owns 625,883 shares of the company’s stock, valued at $2,278,214.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.47% of the company’s stock.
Office Depot Company Profile
Office Depot, Inc (Office Depot) is a provider of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. It operates under the Office Depot and OfficeMax brands.
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