AMG Funds LLC lessened its position in shares of Office Depot Inc (NASDAQ:ODP) by 23.8% during the 3rd quarter, Holdings Channel reports. The firm owned 345,857 shares of the specialty retailer’s stock after selling 108,186 shares during the quarter. AMG Funds LLC’s holdings in Office Depot were worth $1,110,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Office Depot by 8.9% during the third quarter. BlackRock Inc. now owns 79,174,161 shares of the specialty retailer’s stock valued at $254,151,000 after acquiring an additional 6,446,080 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Office Depot by 59.0% during the third quarter. PNC Financial Services Group Inc. now owns 64,708 shares of the specialty retailer’s stock valued at $207,000 after acquiring an additional 24,007 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Office Depot by 6.4% during the third quarter. Bank of New York Mellon Corp now owns 10,967,308 shares of the specialty retailer’s stock valued at $35,206,000 after acquiring an additional 655,591 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Office Depot by 16.6% during the third quarter. Crossmark Global Holdings Inc. now owns 181,047 shares of the specialty retailer’s stock valued at $581,000 after acquiring an additional 25,730 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Office Depot by 21.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 132,364 shares of the specialty retailer’s stock valued at $425,000 after acquiring an additional 23,803 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

ODP stock opened at $3.16 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.60 billion, a PE ratio of 7.02 and a beta of 2.65. Office Depot Inc has a 1 year low of $2.00 and a 1 year high of $3.66.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, November 7th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. Office Depot had a return on equity of 8.90% and a net margin of 0.59%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. Equities research analysts predict that Office Depot Inc will post 0.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 23rd will be given a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.16%. Office Depot’s dividend payout ratio (DPR) is presently 22.22%.

A number of brokerages have commented on ODP. ValuEngine cut Office Depot from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. BidaskClub cut Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Deutsche Bank set a $4.00 target price on Office Depot and gave the company a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research cut Office Depot from a “hold” rating to a “sell” rating in a report on Monday, October 15th. Finally, Bank of America reissued a “buy” rating and set a $4.00 target price on shares of Office Depot in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.17.

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Office Depot 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.

Further Reading: Balance Sheet

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

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