Boston Partners Buys 93,163 Shares of Office Depot, Inc. (ODP)
Boston Partners lifted its holdings in shares of Office Depot, Inc. (NASDAQ:ODP) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,907,195 shares of the specialty retailer’s stock after acquiring an additional 93,163 shares during the quarter. Boston Partners owned approximately 0.76% of Office Depot worth $17,739,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of 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 valued at $101,000 after acquiring an additional 5,400 shares in the last quarter. Pacad Investment Ltd. raised its holdings in Office Depot by 1,292.3% in the second quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 16,800 shares in the last quarter. Eagle Global Advisors LLC bought a new position in Office Depot in the second quarter worth $103,000. PNC Financial Services Group Inc. raised its holdings in Office Depot by 13.4% in the second quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 2,187 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in Office Depot in the second quarter worth $105,000. Institutional investors own 92.67% of the company’s stock.
Office Depot, Inc. (ODP) opened at $3.15 on Tuesday. The stock has a market capitalization of $1,687.71, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.93. Office Depot, Inc. has a 12-month low of $2.97 and a 12-month high of $6.26.
Office Depot (NASDAQ:ODP) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. equities analysts anticipate that Office Depot, Inc. will post 0.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.10 annualized dividend and a yield of 3.17%. Office Depot’s payout ratio is 16.95%.
In other news, insider Michael R. Allison sold 360,000 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $3.83, for a total value of $1,378,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.43% of the company’s stock.
A number of equities research analysts have recently commented on ODP shares. J P Morgan Chase & Co cut Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. BidaskClub raised Office Depot from a “sell” rating to a “hold” rating in a research report on Saturday, October 7th. Jefferies Group LLC reaffirmed a “hold” rating and set a $4.15 price objective (down from $5.00) on shares of Office Depot in a research report on Friday, October 6th. Bank of America Corporation reaffirmed a “buy” rating and set a $6.00 price objective on shares of Office Depot in a research report on Tuesday, September 5th. Finally, ValuEngine cut Office Depot from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $5.08.
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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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