ARP Americas LLC grew its holdings in Office Depot, Inc. (NASDAQ:ODP) by 298.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,200 shares of the specialty retailer’s stock after acquiring an additional 33,100 shares during the period. ARP Americas LLC’s holdings in Office Depot were worth $201,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its holdings in Office Depot by 33.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock worth $101,000 after buying an additional 5,400 shares in the last quarter. Pacad Investment Ltd. boosted its holdings in Office Depot by 1,292.3% during the second 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 in the last quarter. Eagle Global Advisors LLC purchased a new stake in Office Depot during the second quarter worth $103,000. PNC Financial Services Group Inc. boosted its holdings in Office Depot by 13.4% during the second quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after buying an additional 2,187 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Office Depot during the second quarter worth $105,000. 94.89% of the stock is currently owned by institutional investors and hedge funds.
Office Depot, Inc. (NASDAQ:ODP) opened at $3.23 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.92 and a current ratio of 1.59. The firm has a market cap of $1,667.06, a PE ratio of 6.59, a price-to-earnings-growth ratio of 1.00 and a beta of 2.82.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. analysts predict that Office Depot, Inc. will post 0.44 EPS for the current fiscal year.
In other Office Depot news, insider Michael R. Allison sold 360,000 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.43% of the company’s stock.
ODP has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Loop Capital reissued a “hold” rating and set a $5.00 price target on shares of Office Depot in a report on Wednesday, July 12th. BidaskClub downgraded shares of Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Deutsche Bank AG reissued a “hold” rating and set a $5.00 price target (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Finally, Bank of America Corporation reissued a “buy” rating on shares of Office Depot in a report on Sunday, August 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.08.
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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