HBK Investments L P cut its position in shares of Office Depot Inc (NASDAQ:ODP) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,063,945 shares of the specialty retailer’s stock after selling 131,866 shares during the period. HBK Investments L P’s holdings in Office Depot were worth $10,846,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ODP. Allianz Asset Management GmbH raised its position in Office Depot by 9.4% during the fourth quarter. Allianz Asset Management GmbH now owns 264,227 shares of the specialty retailer’s stock valued at $936,000 after purchasing an additional 22,727 shares during the period. Strategic Global Advisors LLC raised its position in Office Depot by 49.2% during the third quarter. Strategic Global Advisors LLC now owns 84,981 shares of the specialty retailer’s stock valued at $386,000 after purchasing an additional 28,041 shares during the period. Itau Unibanco Holding S.A. raised its position in Office Depot by 718.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 32,362 shares of the specialty retailer’s stock valued at $115,000 after purchasing an additional 28,406 shares during the period. KBC Group NV raised its position in Office Depot by 40.6% during the third quarter. KBC Group NV now owns 99,986 shares of the specialty retailer’s stock valued at $454,000 after purchasing an additional 28,857 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Office Depot by 5.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 628,712 shares of the specialty retailer’s stock valued at $2,226,000 after purchasing an additional 32,027 shares during the period. 92.92% of the stock is owned by institutional investors.
Shares of Office Depot Inc (NASDAQ:ODP) opened at $2.46 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.81. Office Depot Inc has a fifty-two week low of $2.27 and a fifty-two week high of $6.26. The firm has a market capitalization of $1,413.94, a P/E ratio of 5.80, a PEG ratio of 0.48 and a beta of 2.55.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Office Depot had a return on equity of 11.74% and a net margin of 1.76%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. research analysts anticipate that Office Depot Inc will post 0.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, March 2nd will be issued a $0.025 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.10 annualized dividend and a dividend yield of 4.07%. Office Depot’s payout ratio is 29.41%.
ODP has been the topic of a number of recent research reports. Zacks Investment Research upgraded Office Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. BidaskClub downgraded Office Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. ValuEngine downgraded Office Depot from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Jefferies Group reiterated a “hold” rating on shares of Office Depot in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.08.
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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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