Teacher Retirement System of Texas boosted its stake in shares of Office Depot Inc. (NASDAQ:ODP) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,164 shares of the company’s stock after buying an additional 11,605 shares during the period. Teacher Retirement System of Texas’ holdings in Office Depot were worth $239,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ODP. Aperio Group LLC boosted its stake in Office Depot by 13.6% in the first quarter. Aperio Group LLC now owns 88,857 shares of the company’s stock valued at $631,000 after buying an additional 10,642 shares in the last quarter. BlackRock Inc. boosted its stake in Office Depot by 23.7% in the first quarter. BlackRock Inc. now owns 235,883 shares of the company’s stock valued at $1,675,000 after buying an additional 45,199 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Office Depot by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 14,751,683 shares of the company’s stock valued at $104,737,000 after buying an additional 71,449 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Office Depot during the first quarter valued at approximately $121,000. Finally, M&T Bank Corp boosted its stake in Office Depot by 11.8% in the first quarter. M&T Bank Corp now owns 18,844 shares of the company’s stock valued at $134,000 after buying an additional 1,982 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.
Shares of Office Depot Inc. (NASDAQ:ODP) opened at 3.25 on Wednesday. The firm has a market capitalization of $1.77 billion, a PE ratio of 6.67 and a beta of 2.78. The stock has a 50 day moving average price of $3.57 and a 200-day moving average price of $4.12. Office Depot Inc. has a 52 week low of $3.11 and a 52 week high of $7.99.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.03. Office Depot had a net margin of 1.99% and a return on equity of 12.05%. The company earned $3.20 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. Equities analysts anticipate that Office Depot Inc. will post $0.39 earnings per share for the current year.
Several equities research analysts have issued reports on ODP shares. TheStreet cut Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Zacks Investment Research raised Office Depot from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Tuesday, July 19th. Finally, Morgan Stanley reissued a “hold” rating and set a $4.35 target price on shares of Office Depot in a research note on Tuesday, August 16th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.69.
In related news, EVP Michael R. Allison sold 23,434 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $3.64, for a total value of $85,299.76. Following the completion of the sale, the executive vice president now directly owns 625,883 shares in the company, valued at approximately $2,278,214.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.47% of the stock is owned by corporate insiders.
Office Depot Company Profile
Office Depot, Inc (Office Depot) is a provider of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. It operates under the Office Depot and OfficeMax brands.
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