Office Depot, Inc. (NASDAQ:ODP) Insider Michael R. Allison Sells 360,000 Shares

Office Depot, Inc. (NASDAQ:ODP) insider Michael R. Allison sold 360,000 shares of Office Depot stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Office Depot, Inc. (NASDAQ ODP) opened at 3.73 on Friday. Office Depot, Inc. has a 52-week low of $3.01 and a 52-week high of $6.26. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 4.83 and a beta of 2.89. The stock’s 50 day moving average is $4.14 and its 200-day moving average is $4.90.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. Equities research analysts anticipate that Office Depot, Inc. will post $0.46 EPS for the current fiscal year.

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ODP has been the subject of a number of recent research reports. ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Bank of America Corporation reiterated a “buy” rating and issued a $6.00 price objective on shares of Office Depot in a research note on Tuesday, September 5th. Finally, Jefferies Group LLC restated a “hold” rating and set a $4.15 price target (down from $5.00) on shares of Office Depot in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $5.08.

Several hedge funds and other institutional investors have recently made changes to their positions in ODP. BlackRock Inc. increased 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 purchasing an additional 54,148,524 shares in the last quarter. AJO LP increased its stake in shares of Office Depot by 5,759.7% in the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock worth $65,166,000 after purchasing an additional 11,357,003 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Office Depot by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock worth $191,925,000 after purchasing an additional 5,677,685 shares in the last quarter. LSV Asset Management increased its stake in shares of Office Depot by 125.9% in the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock worth $44,269,000 after purchasing an additional 4,374,431 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Office Depot by 72.2% in the second quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer’s stock worth $56,396,000 after purchasing an additional 4,192,720 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.

Insider Buying and Selling by Quarter for Office Depot (NASDAQ:ODP)

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