JPMorgan Chase & Co. grew its stake in Office Depot, Inc. (NASDAQ:ODP) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,270,659 shares of the specialty retailer’s stock after acquiring an additional 645,224 shares during the period. JPMorgan Chase & Co. owned 2.38% of Office Depot worth $55,954,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Century Capital Management LLC grew its stake in Office Depot by 38.1% in the 2nd quarter. Century Capital Management LLC now owns 359,546 shares of the specialty retailer’s stock worth $2,028,000 after acquiring an additional 99,120 shares in the last quarter. Prudential Financial Inc. grew its stake in Office Depot by 72.2% in the 2nd quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer’s stock worth $56,396,000 after acquiring an additional 4,192,720 shares in the last quarter. Chicago Equity Partners LLC grew its stake in Office Depot by 311.0% in the 2nd quarter. Chicago Equity Partners LLC now owns 980,055 shares of the specialty retailer’s stock worth $5,528,000 after acquiring an additional 741,570 shares in the last quarter. IndexIQ Advisors LLC grew its stake in Office Depot by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 185,796 shares of the specialty retailer’s stock worth $844,000 after acquiring an additional 84,311 shares in the last quarter. Finally, FMR LLC grew its stake in Office Depot by 46.5% in the 2nd quarter. FMR LLC now owns 3,061,202 shares of the specialty retailer’s stock worth $17,265,000 after acquiring an additional 971,036 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
A number of equities analysts have commented on ODP shares. Deutsche Bank restated a “hold” rating and issued a $5.00 target price (down from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. Bank of America reiterated a “buy” rating on shares of Office Depot in a research note on Sunday, August 13th. Zacks Investment Research downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. ValuEngine downgraded shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.08.
Office Depot, Inc. (ODP) opened at $3.31 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.52. Office Depot, Inc. has a one year low of $2.97 and a one year high of $6.26. The stock has a market cap of $1,687.71, a P/E ratio of 6.96, a PEG ratio of 1.02 and a beta of 2.87.
Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was down 7.6% on a year-over-year basis. analysts predict that Office Depot, Inc. will post 0.44 EPS for the current year.
The firm also recently disclosed 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 presently 16.95%.
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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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