Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,046 Shares of Office Depot, Inc. (ODP)
Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Office Depot, Inc. (NASDAQ:ODP) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,425 shares of the specialty retailer’s stock after purchasing an additional 2,046 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Office Depot were worth $110,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Office Depot by 15,485.9% during the 1st quarter. BlackRock Inc. now owns 54,498,187 shares of the specialty retailer’s stock worth $254,234,000 after acquiring an additional 54,148,524 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Office Depot by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 43,054,694 shares of the specialty retailer’s stock worth $200,850,000 after acquiring an additional 1,995,980 shares in the last quarter. Fairpointe Capital LLC raised its stake in shares of Office Depot by 4.4% during the 1st quarter. Fairpointe Capital LLC now owns 33,020,004 shares of the specialty retailer’s stock worth $154,039,000 after acquiring an additional 1,383,233 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Office Depot by 28.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 28,351,548 shares of the specialty retailer’s stock worth $132,259,000 after acquiring an additional 6,324,791 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Office Depot by 0.7% during the 1st quarter. State Street Corp now owns 18,373,475 shares of the specialty retailer’s stock worth $85,718,000 after acquiring an additional 127,411 shares in the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.
Several research analysts recently commented on the stock. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Friday. Bank of America Corporation reiterated a “buy” rating and set a $6.00 price objective on shares of Office Depot in a research note on Tuesday, September 5th. ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, 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 note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.38.
Shares of Office Depot, Inc. (NASDAQ ODP) opened at 4.37 on Friday. Office Depot, Inc. has a 52-week low of $3.01 and a 52-week high of $6.26. The firm’s 50-day moving average is $4.57 and its 200 day moving average is $5.01. The stock has a market cap of $2.27 billion, a P/E ratio of 5.66 and a beta of 3.08.
Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the business posted $0.06 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts forecast that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a dividend of $0.025 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 2.29%. Office Depot’s 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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