California Public Employees Retirement System boosted its stake in shares of Office Depot Inc (NASDAQ:ODP) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,240,028 shares of the specialty retailer’s stock after purchasing an additional 44,107 shares during the quarter. California Public Employees Retirement System owned approximately 0.43% of Office Depot worth $10,170,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Century Capital Management LLC increased its holdings in shares of Office Depot by 38.1% in the 2nd quarter. Century Capital Management LLC now owns 359,546 shares of the specialty retailer’s stock valued at $2,028,000 after acquiring an additional 99,120 shares during the last quarter. Chicago Equity Partners LLC increased its holdings in shares of Office Depot by 311.0% in the 2nd quarter. Chicago Equity Partners LLC now owns 980,055 shares of the specialty retailer’s stock valued at $5,528,000 after acquiring an additional 741,570 shares during the last quarter. IndexIQ Advisors LLC increased its holdings in shares of Office Depot by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 185,796 shares of the specialty retailer’s stock valued at $844,000 after acquiring an additional 84,311 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Office Depot in the 3rd quarter valued at about $400,000. Finally, FMR LLC increased its holdings in shares of Office Depot by 46.5% in the 2nd quarter. FMR LLC now owns 3,061,202 shares of the specialty retailer’s stock valued at $17,265,000 after acquiring an additional 971,036 shares during the last quarter. Institutional investors own 93.00% of the company’s stock.
A number of research analysts recently issued reports on ODP shares. BidaskClub downgraded Office Depot from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Jefferies Group restated a “hold” rating and set a $4.15 price target (down previously from $5.00) on shares of Office Depot in a research note on Friday, October 6th. JPMorgan Chase & Co. downgraded Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.08.
Shares of Office Depot Inc (ODP) opened at $3.59 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1,850.00, a P/E ratio of 7.64, a PEG ratio of 1.00 and a beta of 2.86. Office Depot Inc has a 1-year low of $2.97 and a 1-year high of $6.26.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS. sell-side analysts anticipate that Office Depot Inc will post 0.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were issued a $0.025 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.10 annualized dividend and a dividend yield of 2.79%. Office Depot’s dividend payout ratio is currently 21.28%.
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Office Depot 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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