Parametrica Management Ltd reduced its stake in Office Depot, Inc. (NASDAQ:ODP) by 56.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,267 shares of the specialty retailer’s stock after selling 41,679 shares during the period. Parametrica Management Ltd’s holdings in Office Depot were worth $182,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of ODP. RWC Asset Management LLP boosted its stake in shares of Office Depot by 73.7% in the first quarter. RWC Asset Management LLP now owns 245,730 shares of the specialty retailer’s stock valued at $1,146,000 after buying an additional 104,279 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Office Depot during the fourth quarter valued at about $145,000. Thrivent Financial For Lutherans boosted its stake in shares of Office Depot by 7.0% in the first quarter. Thrivent Financial For Lutherans now owns 97,640 shares of the specialty retailer’s stock valued at $455,000 after buying an additional 6,360 shares in the last quarter. Paloma Partners Management Co boosted its stake in shares of Office Depot by 131.3% in the first quarter. Paloma Partners Management Co now owns 167,964 shares of the specialty retailer’s stock valued at $783,000 after buying an additional 95,336 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Office Depot during the first quarter valued at $280,000. Institutional investors own 93.33% of the company’s stock.
Shares of Office Depot, Inc. (NASDAQ:ODP) opened at 4.12 on Friday. The company has a market capitalization of $2.14 billion, a P/E ratio of 5.34 and a beta of 2.98. The stock’s 50 day moving average is $5.47 and its 200 day moving average is $5.03. Office Depot, Inc. has a 12 month low of $3.01 and a 12 month high of $6.26.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.03. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates 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 was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, equities analysts predict that Office Depot, Inc. will post $0.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Office Depot’s dividend payout ratio is presently 20.00%.
Several research analysts have recently weighed in on ODP shares. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Office Depot in a research note on Tuesday, May 9th. BidaskClub cut shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Wednesday, May 10th. Loop Capital reiterated a “hold” rating and set a $5.00 price target on shares of Office Depot in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $5.00 price target (down previously from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.25.
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.
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