Office Depot, Inc. (ODP) Stake Lowered by First Trust Advisors LP
First Trust Advisors LP lessened its position in Office Depot, Inc. (NASDAQ:ODP) by 27.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 380,812 shares of the specialty retailer’s stock after selling 145,065 shares during the period. First Trust Advisors LP owned about 0.07% of Office Depot worth $1,729,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Office Depot by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock valued at $250,086,000 after purchasing an additional 1,286,833 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Office Depot by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock worth $191,925,000 after buying an additional 5,677,685 shares in the last quarter. State Street Corp lifted its position in Office Depot by 2.1% during the 2nd quarter. State Street Corp now owns 18,758,006 shares of the specialty retailer’s stock worth $105,796,000 after buying an additional 384,531 shares in the last quarter. Northern Trust Corp lifted its position in Office Depot by 7.5% during the 2nd quarter. Northern Trust Corp now owns 13,355,039 shares of the specialty retailer’s stock worth $75,322,000 after buying an additional 932,852 shares in the last quarter. Finally, AJO LP lifted its position in Office Depot by 5,759.7% during the 2nd quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock worth $65,166,000 after buying an additional 11,357,003 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.
Several brokerages recently issued reports on ODP. Bank of America reiterated a “buy” rating on shares of Office Depot in a research report on Sunday, August 13th. BidaskClub upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Saturday, October 7th. Deutsche Bank reiterated a “hold” rating and set a $5.00 price target (down previously from $5.75) on shares of Office Depot in a research report on Thursday, August 10th. ValuEngine downgraded shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Jefferies Group reiterated a “hold” rating and set a $4.15 price target (down previously from $5.00) on shares of Office Depot in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $5.08.
Shares of Office Depot, Inc. (NASDAQ:ODP) opened at $3.27 on Wednesday. The firm has a market capitalization of $1,630.00, a PE ratio of 6.77, a price-to-earnings-growth ratio of 1.00 and a beta of 2.82. Office Depot, Inc. has a twelve month low of $2.97 and a twelve month high of $6.26. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. equities analysts anticipate that Office Depot, Inc. will post 0.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.10 annualized dividend and a yield of 3.06%. Office Depot’s dividend payout ratio is currently 21.28%.
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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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