Creative Planning Grows Position in Office Depot Inc (ODP)

Creative Planning raised its stake in Office Depot Inc (NASDAQ:ODP) by 55.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,931 shares of the specialty retailer’s stock after purchasing an additional 38,499 shares during the period. Creative Planning’s holdings in Office Depot were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of ODP. Wells Fargo & Company MN grew its stake in Office Depot by 17.5% in the second quarter. Wells Fargo & Company MN now owns 1,001,429 shares of the specialty retailer’s stock valued at $5,648,000 after purchasing an additional 149,001 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Office Depot by 5.8% in the second quarter. Ameriprise Financial Inc. now owns 1,463,537 shares of the specialty retailer’s stock valued at $8,254,000 after purchasing an additional 80,821 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Office Depot by 13.4% in the second quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 2,187 shares during the last quarter. Thrivent Financial For Lutherans grew its stake in Office Depot by 6.7% in the second quarter. Thrivent Financial For Lutherans now owns 104,190 shares of the specialty retailer’s stock valued at $588,000 after purchasing an additional 6,550 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Office Depot by 116.5% in the second quarter. New York State Common Retirement Fund now owns 1,601,281 shares of the specialty retailer’s stock valued at $9,031,000 after purchasing an additional 861,570 shares during the last quarter. Institutional investors own 91.48% of the company’s stock.

Shares of Office Depot Inc (NASDAQ ODP) traded up $0.06 during midday trading on Friday, reaching $3.10. The company’s stock had a trading volume of 7,253,012 shares, compared to its average volume of 3,771,115. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.52. The firm has a market capitalization of $1,599.97, a P/E ratio of 6.60, a PEG ratio of 0.48 and a beta of 2.47. Office Depot Inc has a fifty-two week low of $2.89 and a fifty-two week high of $6.26.

Office Depot (NASDAQ:ODP) last released its earnings results on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue was down 7.6% compared to the same quarter last year. analysts expect that Office Depot Inc will post 0.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 2nd will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, March 1st. Office Depot’s dividend payout ratio (DPR) is 16.95%.

ODP has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. BidaskClub downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, ValuEngine downgraded Office Depot from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Office Depot currently has a consensus rating of “Hold” and a consensus price target of $5.08.

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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.

Institutional Ownership by Quarter for Office Depot (NASDAQ:ODP)

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