Ibex Investors LLC Has $764,000 Stake in Office Depot Inc (ODP)
Ibex Investors LLC lessened its stake in shares of Office Depot Inc (NASDAQ:ODP) by 41.0% in the first quarter, HoldingsChannel.com reports. The firm owned 210,481 shares of the specialty retailer’s stock after selling 146,285 shares during the quarter. Ibex Investors LLC’s holdings in Office Depot were worth $764,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ODP. Hsbc Holdings PLC lifted its stake in Office Depot by 2.0% in the fourth quarter. Hsbc Holdings PLC now owns 345,290 shares of the specialty retailer’s stock worth $890,000 after acquiring an additional 6,710 shares during the period. Scotia Capital Inc. purchased a new stake in Office Depot in the fourth quarter worth $33,000. PNC Financial Services Group Inc. lifted its stake in Office Depot by 22.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 79,373 shares of the specialty retailer’s stock worth $205,000 after acquiring an additional 14,665 shares during the period. Great West Life Assurance Co. Can lifted its stake in Office Depot by 3.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 730,148 shares of the specialty retailer’s stock worth $1,739,000 after acquiring an additional 26,895 shares during the period. Finally, Virtu Financial LLC lifted its position in Office Depot by 174.6% during the fourth quarter. Virtu Financial LLC now owns 131,293 shares of the specialty retailer’s stock valued at $339,000 after buying an additional 83,478 shares during the period. 91.47% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:ODP traded down $0.03 on Wednesday, hitting $2.09. 95,980 shares of the company traded hands, compared to its average volume of 5,452,140. Office Depot Inc has a 52 week low of $1.98 and a 52 week high of $3.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.08 and a quick ratio of 0.76. The company has a market capitalization of $1.12 billion, a PE ratio of 5.97, a PEG ratio of 0.49 and a beta of 2.50.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.10 annualized dividend and a dividend yield of 4.78%. Office Depot’s payout ratio is presently 28.57%.
Several equities analysts have commented on the company. Bank of America reissued a “buy” rating and set a $4.50 price objective on shares of Office Depot in a research report on Thursday, February 28th. ValuEngine downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. BidaskClub upgraded Office Depot from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Finally, Zacks Investment Research downgraded Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company currently has a consensus rating of “Sell” and a consensus target price of $3.08.
WARNING: “Ibex Investors LLC Has $764,000 Stake in Office Depot Inc (ODP)” was originally published by Daily Political and is the property of of Daily Political. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://www.dailypolitical.com/2019/05/15/ibex-investors-llc-has-764000-stake-in-office-depot-inc-odp.html.
About Office Depot
Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.
Featured Story: Why do commodities matter?
Want to see what other hedge funds are holding ODP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Office Depot Inc (NASDAQ:ODP).
Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.