Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Office Depot Inc (NASDAQ:ODP) by 282.9% in the fourth quarter, HoldingsChannel reports. The firm owned 612,696 shares of the specialty retailer’s stock after acquiring an additional 452,700 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Office Depot were worth $1,581,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Scotia Capital Inc. acquired a new stake in Office Depot during the 4th quarter worth approximately $33,000. Alambic Investment Management L.P. acquired a new stake in Office Depot during the 4th quarter worth approximately $36,000. FNY Investment Advisers LLC acquired a new stake in Office Depot in the fourth quarter valued at approximately $41,000. Signition LP grew its position in Office Depot by 127.5% in the fourth quarter. Signition LP now owns 27,330 shares of the specialty retailer’s stock valued at $71,000 after acquiring an additional 15,315 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Office Depot by 12.9% in the fourth quarter. Bank of Montreal Can now owns 33,890 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 3,862 shares in the last quarter. 88.68% of the stock is owned by hedge funds and other institutional investors.
ODP stock opened at $3.52 on Friday. Office Depot Inc has a twelve month low of $2.00 and a twelve month high of $3.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.74. The company has a market cap of $1.94 billion, a PE ratio of 10.06, a P/E/G ratio of 0.43 and a beta of 2.71.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, February 28th. Office Depot’s payout ratio is currently 28.57%.
Several brokerages have issued reports on ODP. Bank of America reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Office Depot in a research report on Thursday, February 28th. ValuEngine downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. BidaskClub raised shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Finally, Zacks Investment Research raised shares of Office Depot from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Office Depot currently has a consensus rating of “Hold” and an average target price of $3.92.
Office Depot Company Profile
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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