Meeder Asset Management Inc. reduced its holdings in shares of Office Depot Inc (NASDAQ:ODP) by 24.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 207,872 shares of the specialty retailer’s stock after selling 68,765 shares during the period. Meeder Asset Management Inc.’s holdings in Office Depot were worth $667,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Office Depot by 442.5% during the first quarter. Royal Bank of Canada now owns 105,703 shares of the specialty retailer’s stock worth $226,000 after purchasing an additional 86,220 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in shares of Office Depot by 51.9% during the first quarter. Xact Kapitalforvaltning AB now owns 82,848 shares of the specialty retailer’s stock worth $178,000 after purchasing an additional 28,300 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Office Depot by 1.5% during the first quarter. Principal Financial Group Inc. now owns 2,233,548 shares of the specialty retailer’s stock worth $4,802,000 after purchasing an additional 31,971 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Office Depot by 161.2% during the first quarter. Allianz Asset Management GmbH now owns 690,172 shares of the specialty retailer’s stock worth $1,484,000 after purchasing an additional 425,945 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Office Depot during the second quarter worth about $426,000. Institutional investors own 90.72% of the company’s stock.
Shares of ODP opened at $3.25 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.75. Office Depot Inc has a one year low of $2.00 and a one year high of $3.66. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 7.22 and a beta of 2.65.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, November 7th. The specialty retailer reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Office Depot had a net margin of 0.59% and a return on equity of 8.90%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period last year, the business posted $0.14 earnings per share. Office Depot’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Office Depot Inc will post 0.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be issued a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $0.10 annualized dividend and a yield of 3.08%. Office Depot’s dividend payout ratio (DPR) is presently 22.22%.
Several analysts have commented on the stock. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. ValuEngine upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Bank of America set a $5.00 price objective on shares of Office Depot and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.17.
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Office Depot 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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