Vident Investment Advisory LLC trimmed its position in shares of Office Depot, Inc. (NASDAQ:ODP) by 22.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 435,728 shares of the specialty retailer’s stock after selling 129,184 shares during the quarter. Vident Investment Advisory LLC owned about 0.08% of Office Depot worth $1,978,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in ODP. AJO LP lifted its position in shares of Office Depot by 5,759.7% during the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock valued at $65,166,000 after buying an additional 11,357,003 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Office Depot by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock valued at $191,925,000 after buying an additional 5,677,685 shares during the last quarter. LSV Asset Management lifted its position in shares of Office Depot by 125.9% during the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock valued at $44,269,000 after buying an additional 4,374,431 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Office Depot by 16.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,237,692 shares of the specialty retailer’s stock valued at $137,279,000 after buying an additional 4,305,079 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Office Depot by 72.2% during the second quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer’s stock valued at $56,396,000 after buying an additional 4,192,720 shares during the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on ODP shares. ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Bank of America reissued a “buy” rating and set a $6.00 price target on shares of Office Depot in a research report on Tuesday, September 5th. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Jefferies Group reissued 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. Finally, J P Morgan Chase & Co lowered shares of Office Depot from a “neutral” rating to an “underweight” rating in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.08.
Office Depot, Inc. (NASDAQ:ODP) opened at $3.43 on Thursday. The company has a market cap of $1,744.48, a P/E ratio of 7.19, a P/E/G ratio of 1.06 and a beta of 2.87. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.93. Office Depot, Inc. has a 1 year low of $2.97 and a 1 year high of $6.26.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. Office Depot’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. research analysts anticipate that Office Depot, Inc. will post 0.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, November 22nd. Office Depot’s payout ratio is currently 16.95%.
In related news, insider Michael R. Allison sold 360,000 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $3.83, for a total value of $1,378,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.43% of the company’s stock.
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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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