PVG Asset Management Corp bought a new stake in Office Depot Inc (NASDAQ:ODP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 168,200 shares of the specialty retailer’s stock, valued at approximately $595,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. grew its holdings in shares of Office Depot by 718.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 32,362 shares of the specialty retailer’s stock worth $115,000 after purchasing an additional 28,406 shares during the last quarter. Suntrust Banks Inc. bought a new stake in shares of Office Depot during the fourth quarter worth $149,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Office Depot during the fourth quarter worth $156,000. State of Tennessee Treasury Department bought a new stake in shares of Office Depot during the fourth quarter worth $159,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Office Depot during the fourth quarter worth $171,000. Institutional investors and hedge funds own 92.95% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research cut Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. BidaskClub cut Office Depot from a “sell” rating to a “strong sell” rating in a report on Friday, March 2nd. Jefferies Group restated a “hold” rating on shares of Office Depot in a report on Thursday, March 1st. Finally, ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.08.
Office Depot Inc (NASDAQ ODP) opened at $2.31 on Tuesday. The stock has a market capitalization of $1,308.59, a PE ratio of 6.79, a P/E/G ratio of 0.45 and a beta of 2.55. Office Depot Inc has a 1-year low of $2.27 and a 1-year high of $6.26. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.81.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Office Depot had a return on equity of 11.74% and a net margin of 1.76%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share. equities analysts forecast that Office Depot Inc will post 0.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Friday, March 2nd were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 4.33%. The ex-dividend date was Thursday, March 1st. Office Depot’s dividend payout ratio is 29.41%.
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Office Depot Company 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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