SG Americas Securities LLC raised its stake in shares of Office Depot Inc (NASDAQ:ODP) by 40.2% during the first quarter, Holdings Channel reports. The institutional investor owned 3,208,439 shares of the specialty retailer’s stock after buying an additional 920,026 shares during the period. SG Americas Securities LLC owned approximately 0.62% of Office Depot worth $14,967,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. California Public Employees Retirement System raised its stake in shares of Office Depot by 12.5% in the third quarter. California Public Employees Retirement System now owns 2,092,021 shares of the specialty retailer’s stock valued at $7,468,000 after buying an additional 232,200 shares during the period. Shell Asset Management Co. purchased a new stake in shares of Office Depot during the third quarter valued at about $1,073,000. Prudential Financial Inc. raised its stake in shares of Office Depot by 5.4% in the third quarter. Prudential Financial Inc. now owns 425,840 shares of the specialty retailer’s stock valued at $1,520,000 after buying an additional 21,660 shares during the period. BlackRock Advisors LLC raised its stake in shares of Office Depot by 10.2% in the third quarter. BlackRock Advisors LLC now owns 288,413 shares of the specialty retailer’s stock valued at $1,030,000 after buying an additional 26,804 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Office Depot by 0.9% in the third quarter. California State Teachers Retirement System now owns 1,171,419 shares of the specialty retailer’s stock valued at $4,182,000 after buying an additional 10,800 shares during the period. 94.05% of the stock is owned by institutional investors.
Office Depot Inc (NASDAQ:ODP) remained flat at $5.03 on Friday. The stock had a trading volume of 7,435,467 shares. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 4.54 and a beta of 3.26. Office Depot Inc has a 1-year low of $3.01 and a 1-year high of $5.54. The company has a 50-day moving average of $4.94 and a 200 day moving average of $4.64.
Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Office Depot had a net margin of 2.41% and a return on equity of 11.70%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue was down 7.0% on a year-over-year basis. Analysts forecast that Office Depot Inc will post $0.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 25th will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Tuesday, May 23rd. Office Depot’s dividend payout ratio (DPR) is presently 17.54%.
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ODP has been the subject of several research analyst reports. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Office Depot in a research note on Tuesday, May 9th. Zacks Investment Research raised Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Wednesday, May 10th. Loop Capital reaffirmed a “hold” rating and set a $5.00 price target on shares of Office Depot in a research note on Monday, February 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $4.50 price target on shares of Office Depot in a research note on Friday, March 3rd. Finally, Telsey Advisory Group lifted their price target on Office Depot from $4.40 to $5.25 and gave the stock a “market perform” rating in a research note on Wednesday, May 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.12.
In related news, insider Michael R. Allison sold 35,000 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $4.61, for a total value of $161,350.00. Following the completion of the transaction, the insider now owns 852,107 shares of the company’s stock, valued at approximately $3,928,213.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Joseph Vassalluzzo purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $4.70 per share, with a total value of $117,500.00. Following the acquisition, the chairman now owns 84,534 shares in the company, valued at approximately $397,309.80. The disclosure for this purchase can be found here. Insiders have sold a total of 166,619 shares of company stock valued at $797,274 in the last three months. Insiders own 1.47% of the company’s stock.
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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