Macquarie Group Ltd. Takes $885,000 Position in Office Depot, Inc. (ODP)

Macquarie Group Ltd. acquired a new stake in shares of Office Depot, Inc. (NASDAQ:ODP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 195,000 shares of the specialty retailer’s stock, valued at approximately $885,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Office Depot by 3.0% during the second quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock valued at $250,086,000 after purchasing an additional 1,286,833 shares during the period. Dimensional Fund Advisors LP grew its holdings in Office Depot by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock valued at $191,925,000 after purchasing an additional 5,677,685 shares during the period. State Street Corp grew its holdings in Office Depot by 2.1% during the second quarter. State Street Corp now owns 18,758,006 shares of the specialty retailer’s stock valued at $105,796,000 after purchasing an additional 384,531 shares during the period. Northern Trust Corp grew its holdings in Office Depot by 7.5% during the second quarter. Northern Trust Corp now owns 13,355,039 shares of the specialty retailer’s stock valued at $75,322,000 after purchasing an additional 932,852 shares during the period. Finally, AJO LP grew its holdings in Office Depot by 5,759.7% during the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock valued at $65,166,000 after purchasing an additional 11,357,003 shares during the period. 93.29% of the stock is owned by institutional investors and hedge funds.

Office Depot, Inc. (ODP) opened at $3.27 on Monday. Office Depot, Inc. has a twelve month low of $2.97 and a twelve month high of $6.26. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.93. The company has a market capitalization of $1,687.71, a price-to-earnings ratio of 6.96, a PEG ratio of 1.02 and a beta of 2.87.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $0.16 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. research analysts anticipate that Office Depot, Inc. will post 0.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, November 22nd. Office Depot’s payout ratio is currently 16.95%.

In other news, insider Michael R. Allison sold 360,000 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $3.83, for a total value of $1,378,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.43% of the stock is owned by company insiders.

Several brokerages have weighed in on ODP. Bank of America reissued a “buy” rating and set a $6.00 price objective on shares of Office Depot in a report on Tuesday, September 5th. BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. ValuEngine lowered Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, J P Morgan Chase & Co lowered Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.08.

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Office Depot Profile

Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.

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

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