Towle & Co. boosted its holdings in shares of Office Depot Inc (NASDAQ:ODP) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,343,168 shares of the specialty retailer’s stock after buying an additional 275,590 shares during the period. Office Depot makes up about 3.6% of Towle & Co.’s holdings, making the stock its 11th largest holding. Towle & Co.’s holdings in Office Depot were worth $39,622,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Acadian Asset Management LLC lifted its stake in Office Depot by 2,383.8% during the third quarter. Acadian Asset Management LLC now owns 35,817 shares of the specialty retailer’s stock worth $115,000 after purchasing an additional 34,375 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in Office Depot during the second quarter worth about $106,000. Virtu Financial LLC bought a new stake in Office Depot during the second quarter worth about $121,000. Nisa Investment Advisors LLC lifted its stake in Office Depot by 74.7% during the second quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock worth $133,000 after purchasing an additional 22,300 shares during the last quarter. Finally, Greenwich Wealth Management LLC lifted its stake in Office Depot by 233.9% during the second quarter. Greenwich Wealth Management LLC now owns 54,027 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 37,845 shares during the last quarter. 90.70% of the stock is owned by institutional investors.
NASDAQ ODP opened at $2.68 on Friday. Office Depot Inc has a 1-year low of $2.00 and a 1-year high of $3.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.85. The stock has a market capitalization of $1.42 billion, a PE ratio of 7.31, a P/E/G ratio of 0.45 and a beta of 2.64.
Office Depot (NASDAQ:ODP) last released its earnings results on Tuesday, August 7th. The specialty retailer reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the company posted $0.06 EPS. Equities research analysts forecast that Office Depot Inc will post 0.33 earnings per share for the current year.
Several equities research analysts have issued reports on ODP shares. BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. ValuEngine raised Office Depot from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised Office Depot from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Thursday, August 9th. Finally, Bank of America reissued a “buy” rating and issued a $4.00 target price on shares of Office Depot in a research note on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Office Depot has a consensus rating of “Hold” and an average target price of $3.75.
Office Depot Profile
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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