Martingale Asset Management L P trimmed its stake in shares of Office Depot, Inc. (NASDAQ:ODP) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 444,513 shares of the specialty retailer’s stock after selling 3,300 shares during the period. Martingale Asset Management L P owned 0.09% of Office Depot worth $2,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. lifted its position in 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 purchasing an additional 4,192,720 shares during the last quarter. Century Capital Management LLC lifted its position in Office Depot by 38.1% during the second quarter. Century Capital Management LLC now owns 359,546 shares of the specialty retailer’s stock valued at $2,028,000 after purchasing an additional 99,120 shares during the last quarter. Chicago Equity Partners LLC lifted its position in Office Depot by 311.0% during the second quarter. Chicago Equity Partners LLC now owns 980,055 shares of the specialty retailer’s stock valued at $5,528,000 after purchasing an additional 741,570 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Office Depot by 7.0% during the first quarter. Thrivent Financial For Lutherans now owns 97,640 shares of the specialty retailer’s stock valued at $455,000 after purchasing an additional 6,360 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its position in Office Depot by 106.8% during the second quarter. Cigna Investments Inc. New now owns 41,203 shares of the specialty retailer’s stock valued at $232,000 after purchasing an additional 21,276 shares during the last quarter. 94.06% of the stock is owned by institutional investors.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Loop Capital reiterated a “hold” rating and set a $5.00 price objective on shares of Office Depot in a research report on Wednesday, July 12th. Bank of America Corporation reiterated a “buy” rating and set a $6.00 price objective on shares of Office Depot in a research report on Tuesday, September 5th. Deutsche Bank AG reiterated a “hold” rating and set a $5.00 price objective (down previously from $5.75) on shares of Office Depot in a research report on Thursday, August 10th. Finally, ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.38.

Shares of Office Depot, Inc. (NASDAQ ODP) opened at 4.42 on Tuesday. Office Depot, Inc. has a 12-month low of $3.01 and a 12-month high of $6.26. The stock has a 50 day moving average of $4.61 and a 200 day moving average of $5.01. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 5.73 and a beta of 3.08.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the company posted $0.06 EPS. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities research analysts predict that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Wednesday, August 23rd. Office Depot’s dividend payout ratio is currently 20.00%.

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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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Institutional Ownership by Quarter for Office Depot (NASDAQ:ODP)

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