Commonwealth Bank of Australia acquired a new position in shares of Office Depot, Inc. (NASDAQ:ODP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 141,900 shares of the specialty retailer’s stock, valued at approximately $800,000.

A number of other institutional investors have also recently modified their holdings of the business. LSV Asset Management grew its stake in shares of Office Depot by 125.9% during the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock valued at $44,269,000 after purchasing an additional 4,374,431 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Office Depot by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,400 shares of the specialty retailer’s stock valued at $425,000 after purchasing an additional 197 shares during the last quarter. Swiss National Bank grew its stake in shares of Office Depot by 6.4% during the second quarter. Swiss National Bank now owns 880,195 shares of the specialty retailer’s stock valued at $4,964,000 after purchasing an additional 53,100 shares during the last quarter. Pacad Investment Ltd. grew its stake in shares of Office Depot by 1,292.3% during the second quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 16,800 shares during the last quarter. Finally, Chicago Equity Partners LLC grew its stake in shares of Office Depot by 311.0% during the second quarter. Chicago Equity Partners LLC now owns 980,055 shares of the specialty retailer’s stock valued at $5,528,000 after purchasing an additional 741,570 shares during the last quarter. 94.07% of the stock is currently owned by hedge funds and other institutional investors.

Office Depot, Inc. (ODP) opened at 4.48 on Friday. The firm has a 50-day moving average of $4.65 and a 200-day moving average of $5.01. The company has a market capitalization of $2.32 billion, a PE ratio of 5.80 and a beta of 3.08. Office Depot, Inc. has a 52 week low of $3.01 and a 52 week high of $6.26.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities analysts expect that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 23rd. Office Depot’s dividend payout ratio is currently 20.00%.

ODP has been the topic of several research analyst reports. BidaskClub raised shares of Office Depot from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Bank of America Corporation reissued a “buy” rating and set a $6.00 price target on shares of Office Depot in a research note on Tuesday, September 5th. ValuEngine cut shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Deutsche Bank AG reissued a “hold” rating and set a $5.00 price target (down from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. Finally, Loop Capital reissued a “hold” rating and set a $5.00 price target on shares of Office Depot in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $5.38.

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Office Depot 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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