American Century Companies Inc. grew its holdings in Office Depot, Inc. (NASDAQ:ODP) by 436.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,388,910 shares of the specialty retailer’s stock after acquiring an additional 1,129,943 shares during the period. American Century Companies Inc. owned about 0.27% of Office Depot worth $6,306,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Office Depot by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock valued at $250,086,000 after acquiring an additional 1,286,833 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 during the last quarter. State Street Corp increased its holdings in shares of Office Depot by 2.1% in the second quarter. State Street Corp now owns 18,758,006 shares of the specialty retailer’s stock worth $105,796,000 after purchasing an additional 384,531 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Office Depot by 7.5% in the second quarter. Northern Trust Corp now owns 13,355,039 shares of the specialty retailer’s stock worth $75,322,000 after purchasing an additional 932,852 shares during the last quarter. Finally, AJO LP increased its holdings 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 during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
Shares of Office Depot, Inc. (ODP) traded up $0.05 during midday trading on Thursday, reaching $3.31. The company’s stock had a trading volume of 4,415,090 shares, compared to its average volume of 5,803,319. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 0.51. Office Depot, Inc. has a 52 week low of $2.97 and a 52 week high of $6.26. The company has a market capitalization of $1,687.71, a PE ratio of 6.96, a P/E/G ratio of 1.02 and a beta of 2.87.
Office Depot (NASDAQ:ODP) last issued 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 company had revenue of $2.62 billion for 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 firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. equities analysts predict that Office Depot, Inc. will post 0.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.02%. Office Depot’s dividend payout ratio is 16.95%.
Several equities research analysts have recently issued reports on ODP shares. J P Morgan Chase & Co cut Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. ValuEngine cut Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Bank of America reaffirmed a “buy” rating and issued a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $4.15 target price (down from $5.00) on shares of Office Depot in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.08.
In other news, insider Michael R. Allison sold 360,000 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was 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 SEC, which is accessible through this link. Corporate insiders own 2.43% of the company’s stock.
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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.
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