State of Tennessee Treasury Department bought a new stake in shares of Office Depot Inc (NASDAQ:ODP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,000 shares of the specialty retailer’s stock, valued at approximately $159,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ODP. Crossmark Global Holdings Inc. bought a new stake in Office Depot in the third quarter worth $400,000. Victory Capital Management Inc. lifted its position in Office Depot by 248.4% in the third quarter. Victory Capital Management Inc. now owns 80,619 shares of the specialty retailer’s stock worth $366,000 after buying an additional 57,478 shares during the last quarter. American Century Companies Inc. lifted its position in Office Depot by 436.3% in the third quarter. American Century Companies Inc. now owns 1,388,910 shares of the specialty retailer’s stock worth $6,306,000 after buying an additional 1,129,943 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Office Depot in the third quarter worth $904,000. Finally, Quantbot Technologies LP bought a new stake in Office Depot in the third quarter worth $409,000. Hedge funds and other institutional investors own 92.95% of the company’s stock.
Shares of Office Depot stock opened at $2.36 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.40 and a quick ratio of 0.87. Office Depot Inc has a 52 week low of $2.27 and a 52 week high of $6.26. The firm has a market capitalization of $1,308.59, a price-to-earnings ratio of 5.36, a price-to-earnings-growth ratio of 0.45 and a beta of 2.55.
Office Depot (NASDAQ:ODP) last released its earnings results on Wednesday, February 28th. The specialty retailer reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Office Depot had a return on equity of 11.74% and a net margin of 1.76%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $0.11 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. sell-side analysts expect that Office Depot Inc will post 0.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd were paid a $0.025 dividend. The ex-dividend date was Thursday, March 1st. This represents a $0.10 dividend on an annualized basis and a yield of 4.24%. Office Depot’s payout ratio is 29.41%.
A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Office Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. Jefferies Group reiterated a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st. ValuEngine lowered Office Depot from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, BidaskClub lowered Office Depot from a “sell” rating to a “strong sell” rating in a research note on Friday, March 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company 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.
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