Office Depot, Inc. (NASDAQ:ODP) Holdings Lifted by Fmr LLC

FMR LLC lifted its holdings in Office Depot, Inc. (NASDAQ:ODP) by 46.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,061,202 shares of the specialty retailer’s stock after buying an additional 971,036 shares during the quarter. FMR LLC owned about 0.59% of Office Depot worth $17,265,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ODP. Pacad Investment Ltd. grew its position in shares of Office Depot by 1,292.3% during the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after buying an additional 16,800 shares during the period. Eagle Global Advisors LLC bought a new stake in shares of Office Depot during the 2nd quarter worth approximately $103,000. PNC Financial Services Group Inc. raised its stake in shares of Office Depot by 13.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 2,187 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Office Depot during the 2nd quarter worth approximately $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 acquiring an additional 2,046 shares during the period. 94.95% of the stock is owned by institutional investors and hedge funds.

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Several analysts have recently issued reports on the company. BidaskClub lowered Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Bank of America Corporation reiterated a “buy” rating and issued a $6.00 target price on shares of Office Depot in a research report on Tuesday, September 5th. J P Morgan Chase & Co downgraded Office Depot from a “neutral” rating to an “underweight” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $4.15 price objective (down previously from $5.00) on shares of Office Depot in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $5.08.

In other news, insider Michael R. Allison sold 360,000 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $3.83, for a total value of $1,378,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.43% of the company’s stock.

Office Depot, Inc. (NASDAQ ODP) traded up $0.03 on Friday, reaching $3.27. The company’s stock had a trading volume of 6,815,500 shares, compared to its average volume of 5,899,051. Office Depot, Inc. has a fifty-two week low of $2.97 and a fifty-two week high of $6.26. The company has a market cap of $1,672.22, a price-to-earnings ratio of 6.89, a price-to-earnings-growth ratio of 1.01 and a beta of 2.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.92.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. analysts anticipate that Office Depot, Inc. will post 0.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be paid 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 16.95%.

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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