GSA Capital Partners LLP lowered its position in Office Depot Inc (NASDAQ:ODP) by 48.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,368 shares of the specialty retailer’s stock after selling 96,372 shares during the period. GSA Capital Partners LLP’s holdings in Office Depot were worth $474,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Office Depot by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,400 shares of the specialty retailer’s stock valued at $425,000 after buying an additional 197 shares in the last quarter. American Century Companies Inc. increased its holdings in Office Depot by 0.5% during the 2nd quarter. American Century Companies Inc. now owns 258,967 shares of the specialty retailer’s stock worth $1,461,000 after purchasing an additional 1,193 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Office Depot by 11.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,425 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 2,046 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Office Depot by 13.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 2,187 shares in the last quarter. Finally, PDT Partners LLC increased its holdings in Office Depot by 0.3% during the 2nd quarter. PDT Partners LLC now owns 917,042 shares of the specialty retailer’s stock worth $5,172,000 after purchasing an additional 2,842 shares in the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.
A number of equities analysts have issued reports on the company. BidaskClub cut Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded Office Depot from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. JPMorgan Chase & Co. cut Office Depot from a “neutral” rating to an “underweight” rating in a report on Monday, October 30th. Finally, Jefferies Group reiterated a “hold” rating and set a $4.15 target price (down previously from $5.00) on shares of Office Depot in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.08.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. Office Depot’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. equities analysts forecast that Office Depot Inc will post 0.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Wednesday, November 22nd. Office Depot’s payout ratio is 21.28%.
In other news, insider Michael R. Allison sold 360,000 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $3.83, for a total value of $1,378,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.43% of the stock is owned by company insiders.
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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.
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