Office Depot, Inc. (ODP) Stake Increased by American International Group Inc.
American International Group Inc. lifted its holdings in Office Depot, Inc. (NASDAQ:ODP) by 3.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,404,068 shares of the specialty retailer’s stock after buying an additional 40,991 shares during the period. American International Group Inc. owned about 0.27% of Office Depot worth $6,374,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. AJO LP raised its holdings in shares of Office Depot by 5,759.7% during the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock worth $65,166,000 after acquiring an additional 11,357,003 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Office Depot by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock worth $191,925,000 after acquiring an additional 5,677,685 shares in the last quarter. LSV Asset Management raised its holdings in shares of Office Depot by 125.9% during the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock worth $44,269,000 after acquiring an additional 4,374,431 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Office Depot by 72.2% during the second 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. Finally, Teachers Advisors LLC raised its holdings in shares of Office Depot by 51.4% during the second quarter. Teachers Advisors LLC now owns 6,143,890 shares of the specialty retailer’s stock worth $34,652,000 after acquiring an additional 2,085,209 shares in the last quarter. 93.29% of the stock is owned by institutional investors and hedge funds.
Office Depot, Inc. (ODP) opened at $3.21 on Friday. Office Depot, Inc. has a 1-year low of $2.97 and a 1-year high of $6.26. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm 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 2.87.
Office Depot (NASDAQ:ODP) last posted its earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $0.16 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. equities research analysts anticipate that Office Depot, Inc. will post 0.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.10 annualized dividend and a yield of 3.12%. Office Depot’s dividend payout ratio (DPR) is currently 16.95%.
Several analysts recently issued reports on ODP shares. Jefferies Group reiterated a “hold” rating and set a $4.15 price objective (down from $5.00) on shares of Office Depot in a report on Friday, October 6th. BidaskClub upgraded Office Depot from a “sell” rating to a “hold” rating in a report on Saturday, October 7th. J P Morgan Chase & Co lowered Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. Zacks Investment Research lowered Office Depot from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, ValuEngine lowered Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Office Depot has an average rating of “Hold” and an average price target of $5.08.
In other Office Depot 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 transaction of $1,378,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.43% of the stock is owned by company insiders.
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About Office Depot
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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