Chicago Equity Partners LLC boosted its position in shares of Office Depot, Inc. (NASDAQ:ODP) by 311.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 980,055 shares of the specialty retailer’s stock after purchasing an additional 741,570 shares during the period. Chicago Equity Partners LLC owned about 0.19% of Office Depot worth $5,528,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in Office Depot by 33.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock worth $101,000 after acquiring an additional 5,400 shares in the last quarter. Eagle Global Advisors LLC bought a new position in Office Depot in the 2nd quarter worth about $103,000. Stratos Wealth Partners LTD. bought a new position in Office Depot in the 2nd quarter worth about $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Office Depot by 11.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,425 shares of the specialty retailer’s stock worth $110,000 after acquiring an additional 2,046 shares in the last quarter. Finally, Horizon Investment Services LLC bought a new position in Office Depot in the 1st quarter worth about $111,000. Institutional investors own 94.07% of the company’s stock.
ODP has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut shares of Office Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $5.00 price target (down previously from $5.75) on shares of Office Depot in a research report on Thursday, August 10th. BidaskClub raised shares of Office Depot from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Office Depot in a research report on Sunday, August 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.38.
Office Depot, Inc. (NASDAQ:ODP) traded down 0.88% during midday trading on Friday, reaching $4.48. 6,250,571 shares of the company were exchanged. The company has a market capitalization of $2.32 billion, a PE ratio of 5.80 and a beta of 3.08. Office Depot, Inc. has a 52 week low of $3.01 and a 52 week high of $6.26. The firm has a 50-day moving average price of $4.65 and a 200-day moving average price of $5.01.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $0.06 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts anticipate that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 2.23%. The ex-dividend date was Wednesday, August 23rd. Office Depot’s dividend payout ratio (DPR) is 20.00%.
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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