Office Depot, Inc. (ODP) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its stake in shares of Office Depot, Inc. (NASDAQ:ODP) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,160,800 shares of the specialty retailer’s stock after selling 2,011,018 shares during the period. Bank of New York Mellon Corp owned about 5.84% of Office Depot worth $170,108,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Office Depot by 15,485.9% in the first quarter. BlackRock Inc. now owns 54,498,187 shares of the specialty retailer’s stock worth $254,234,000 after buying an additional 54,148,524 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Office Depot by 28.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,351,548 shares of the specialty retailer’s stock worth $132,259,000 after buying an additional 6,324,791 shares during the last quarter. KAMES CAPITAL plc raised its stake in shares of Office Depot by 1,162.6% in the second quarter. KAMES CAPITAL plc now owns 3,300,088 shares of the specialty retailer’s stock worth $18,579,000 after buying an additional 3,038,719 shares during the last quarter. LSV Asset Management raised its stake in shares of Office Depot by 405.7% in the first quarter. LSV Asset Management now owns 3,474,796 shares of the specialty retailer’s stock worth $16,209,000 after buying an additional 2,787,696 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Office Depot by 66.4% in the first quarter. Prudential Financial Inc. now owns 5,806,620 shares of the specialty retailer’s stock worth $27,088,000 after buying an additional 2,316,230 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.
Shares of Office Depot, Inc. (NASDAQ:ODP) opened at 4.12 on Monday. Office Depot, Inc. has a 12-month low of $3.01 and a 12-month high of $6.26. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 5.34 and a beta of 2.98. The company’s 50-day moving average is $5.47 and its 200-day moving average is $5.03.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.44 billion. Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Analysts predict that Office Depot, Inc. will post $0.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 2.43%. Office Depot’s dividend payout ratio is presently 20.00%.
A number of equities research analysts have recently weighed in on ODP shares. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Office Depot in a report on Tuesday, May 9th. Telsey Advisory Group boosted 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. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, May 10th. Jefferies Group LLC restated a “hold” rating and issued a $5.00 price objective (up from $4.50) on shares of Office Depot in a report on Wednesday, May 10th. Finally, BidaskClub upgraded shares of Office Depot from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.25.
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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