Creative Planning cut its holdings in shares of Office Depot Inc (NASDAQ:ODP) by 35.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,400 shares of the specialty retailer’s stock after selling 15,000 shares during the quarter. Creative Planning’s holdings in Office Depot were worth $45,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Comerica Bank raised its stake in shares of Office Depot by 3.7% in the first quarter. Comerica Bank now owns 556,901 shares of the specialty retailer’s stock valued at $986,000 after purchasing an additional 20,017 shares in the last quarter. UBS Group AG raised its stake in shares of Office Depot by 8.2% in the first quarter. UBS Group AG now owns 468,259 shares of the specialty retailer’s stock valued at $768,000 after purchasing an additional 35,583 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Office Depot in the first quarter valued at $402,000. New York State Teachers Retirement System raised its stake in shares of Office Depot by 2.8% in the first quarter. New York State Teachers Retirement System now owns 1,168,359 shares of the specialty retailer’s stock valued at $1,916,000 after purchasing an additional 31,800 shares in the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Office Depot by 24.6% in the first quarter. Texas Permanent School Fund now owns 465,683 shares of the specialty retailer’s stock valued at $764,000 after purchasing an additional 91,884 shares in the last quarter. Institutional investors own 89.57% of the company’s stock.

Shares of NASDAQ:ODP opened at $2.27 on Friday. The business’s fifty day moving average price is $1.94 and its two-hundred day moving average price is $2.22. Office Depot Inc has a fifty-two week low of $1.23 and a fifty-two week high of $2.81. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.76 and a beta of 2.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.15 and a quick ratio of 0.76.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, May 6th. The specialty retailer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Office Depot had a return on equity of 11.98% and a net margin of 1.28%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Research analysts expect that Office Depot Inc will post 0.44 EPS for the current fiscal year.

A number of research analysts recently commented on ODP shares. ValuEngine lowered Office Depot from a “hold” rating to a “sell” rating in a research note on Monday, March 30th. Sidoti began coverage on Office Depot in a research report on Thursday, April 30th. They issued a “buy” rating on the stock. Finally, BidaskClub upgraded Office Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Office Depot presently has an average rating of “Hold” and an average target price of $1.60.

Office Depot Company Profile

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.

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

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