JPMorgan Chase & Co. raised its position in Office Depot Inc (NASDAQ:ODP) by 5.7% in the first quarter, Holdings Channel reports. The institutional investor owned 12,835,911 shares of the specialty retailer’s stock after purchasing an additional 686,633 shares during the period. JPMorgan Chase & Co.’s holdings in Office Depot were worth $27,598,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank raised its stake in shares of Office Depot by 2.5% in the 1st quarter. Swiss National Bank now owns 902,095 shares of the specialty retailer’s stock valued at $1,940,000 after purchasing an additional 21,900 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Office Depot by 9.4% in the 4th quarter. Allianz Asset Management GmbH now owns 264,227 shares of the specialty retailer’s stock valued at $936,000 after purchasing an additional 22,727 shares in the last quarter. KBC Group NV raised its stake in shares of Office Depot by 43.6% in the 1st quarter. KBC Group NV now owns 80,378 shares of the specialty retailer’s stock valued at $173,000 after purchasing an additional 24,406 shares in the last quarter. Vident Investment Advisory LLC raised its stake in shares of Office Depot by 6.5% in the 4th quarter. Vident Investment Advisory LLC now owns 464,086 shares of the specialty retailer’s stock valued at $1,643,000 after purchasing an additional 28,358 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Office Depot by 718.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 32,362 shares of the specialty retailer’s stock valued at $115,000 after purchasing an additional 28,406 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

In other Office Depot news, Chairman Joseph Vassalluzzo acquired 58,800 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were purchased at an average price of $2.55 per share, for a total transaction of $149,940.00. Following the completion of the purchase, the chairman now directly owns 143,834 shares in the company, valued at $366,776.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph T. Lower acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The shares were acquired at an average price of $2.39 per share, for a total transaction of $47,800.00. Following the purchase, the chief financial officer now owns 872,552 shares of the company’s stock, valued at $2,085,399.28. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 88,800 shares of company stock worth $221,640. 2.18% of the stock is owned by company insiders.

A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Office Depot from a “hold” rating to a “buy” rating in a research note on Tuesday. Bank of America restated a “buy” rating and issued a $3.00 target price on shares of Office Depot in a research note on Thursday, May 17th. Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Jefferies Financial Group restated a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st. Finally, ValuEngine lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $3.93.

ODP opened at $2.91 on Wednesday. The stock has a market cap of $1.61 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 0.53 and a beta of 2.64. Office Depot Inc has a fifty-two week low of $2.00 and a fifty-two week high of $6.26. The company has a current ratio of 1.39, a quick ratio of 0.90 and a debt-to-equity ratio of 0.78.

Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, May 9th. The specialty retailer reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.74 billion. Office Depot had a net margin of 1.01% and a return on equity of 9.60%. Office Depot’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. sell-side analysts predict that Office Depot Inc will post 0.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 25th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $0.10 annualized dividend and a yield of 3.44%. Office Depot’s dividend payout ratio (DPR) is 22.22%.

Office Depot Company Profile

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

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

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