NN Investment Partners Holdings N.V. Buys New Position in Office Depot, Inc. (ODP)
NN Investment Partners Holdings N.V. purchased a new position in Office Depot, Inc. (NASDAQ:ODP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 72,908 shares of the specialty retailer’s stock, valued at approximately $411,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in shares of Office Depot by 33.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 5,400 shares during the period. Fox Run Management L.L.C. purchased a new stake in shares of Office Depot during the second quarter valued at approximately $132,000. Horizon Investment Services LLC purchased a new stake in shares of Office Depot during the first quarter valued at approximately $111,000. Envestnet Asset Management Inc. increased its stake in shares of Office Depot by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 25,558 shares of the specialty retailer’s stock worth $119,000 after buying an additional 1,927 shares during the last quarter. Finally, Ronald Blue & Co. LLC bought a new stake in shares of Office Depot during the first quarter worth about $120,000. 93.46% of the stock is owned by institutional investors and hedge funds.
Office Depot, Inc. (NASDAQ ODP) traded up 3.788% during trading on Monday, hitting $6.165. 6,863,380 shares of the company were exchanged. The firm’s 50 day moving average price is $5.70 and its 200-day moving average price is $5.00. The stock has a market capitalization of $3.19 billion, a PE ratio of 5.564 and a beta of 2.98. Office Depot, Inc. has a 1-year low of $3.01 and a 1-year high of $6.24.
Office Depot (NASDAQ:ODP) last issued its earnings results on Tuesday, May 9th. The specialty retailer reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.71 billion. Office Depot had a return on equity of 13.39% and a net margin of 3.93%. Office Depot’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities analysts predict that Office Depot, Inc. will post $0.53 EPS for the current year.
ODP has been the topic of a number of recent analyst reports. BidaskClub raised shares of Office Depot from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Zacks Investment Research raised shares of Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Wednesday, May 10th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Office Depot in a report on Tuesday, May 9th. Loop Capital reissued a “hold” rating and issued a $5.00 price objective on shares of Office Depot in a report on Wednesday, July 12th. Finally, Telsey Advisory Group raised their price objective on shares of Office Depot from $4.40 to $5.25 and gave the stock a “market perform” rating in a report on Wednesday, May 10th. Eight equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus target price of $5.12.
In related news, insider Michael R. Allison sold 66,217 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $5.08, for a total value of $336,382.36. Following the sale, the insider now owns 763,691 shares in the company, valued at $3,879,550.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.43% of the stock is owned by corporate insiders.
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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