Office Depot, Inc. (ODP) Stake Maintained by CIBC World Markets Inc.
CIBC World Markets Inc. maintained its position in Office Depot, Inc. (NASDAQ:ODP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,015 shares of the specialty retailer’s stock at the close of the 2nd quarter. CIBC World Markets Inc.’s holdings in Office Depot were worth $175,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ODP. Nomura Asset Management Co. Ltd. lifted its stake in shares of Office Depot by 33.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 5,400 shares during the period. Pacad Investment Ltd. lifted its stake in shares of Office Depot by 1,292.3% in the 2nd 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 period. Eagle Global Advisors LLC acquired a new position in shares of Office Depot in the 2nd quarter valued at about $103,000. Stratos Wealth Partners LTD. acquired a new position in shares of Office Depot in the 2nd quarter valued at about $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Office Depot by 11.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,425 shares of the specialty retailer’s stock valued at $110,000 after purchasing an additional 2,046 shares during the period. Hedge funds and other institutional investors own 94.06% of the company’s stock.
A number of research analysts have recently issued reports on ODP shares. Bank of America Corporation reissued a “buy” rating and issued a $6.00 price objective on shares of Office Depot in a research note on Tuesday, September 5th. ValuEngine downgraded Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised Office Depot from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Deutsche Bank AG reissued a “hold” rating and issued a $5.00 price objective (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 issued a $5.00 price objective on shares of Office Depot in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Office Depot has a consensus rating of “Hold” and an average price target of $5.38.
Office Depot, Inc. (ODP) opened at 4.37 on Friday. Office Depot, Inc. has a 1-year low of $3.01 and a 1-year high of $6.26. The firm has a market capitalization of $2.27 billion, a P/E ratio of 5.66 and a beta of 3.08. The company’s 50-day moving average price is $4.57 and its 200-day moving average price is $5.01.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the business earned $0.06 earnings per share. The business’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts expect that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.10 annualized dividend and a yield of 2.29%. Office Depot’s dividend payout ratio (DPR) is presently 20.00%.
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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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