Credit Agricole S A purchased a new position in shares of Office Depot Inc (NASDAQ:ODP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,980 shares of the specialty retailer’s stock, valued at approximately $149,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ODP. Bank of New York Mellon Corp increased its position in shares of Office Depot by 127.9% in the third quarter. Bank of New York Mellon Corp now owns 27,967,852 shares of the specialty retailer’s stock valued at $99,846,000 after buying an additional 15,695,817 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in shares of Office Depot during the fourth quarter valued at approximately $37,593,000. Dimensional Fund Advisors LP increased its position in shares of Office Depot by 26.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,026,757 shares of the specialty retailer’s stock valued at $99,563,000 after buying an additional 4,617,613 shares during the period. BlackRock Fund Advisors increased its position in shares of Office Depot by 11.4% in the third quarter. BlackRock Fund Advisors now owns 28,679,711 shares of the specialty retailer’s stock valued at $102,387,000 after buying an additional 2,933,005 shares during the period. Finally, Phocas Financial Corp. purchased a new position in shares of Office Depot during the third quarter valued at approximately $9,804,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Shares of Office Depot Inc (NASDAQ:ODP) traded down 1.62% during mid-day trading on Friday, hitting $4.87. 2,832,144 shares of the stock traded hands. Office Depot Inc has a one year low of $3.01 and a one year high of $6.36. The company’s 50 day moving average is $4.66 and its 200 day moving average is $4.37. The firm has a market capitalization of $2.51 billion, a P/E ratio of 5.04 and a beta of 3.26.
Office Depot (NASDAQ:ODP) last issued its earnings results on Wednesday, March 1st. The specialty retailer reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The business earned $2.73 billion during the quarter, compared to analyst estimates of $2.74 billion. Office Depot had a return on equity of 11.70% and a net margin of 2.41%. During the same quarter in the prior year, the firm earned $0.07 earnings per share. On average, equities analysts expect that Office Depot Inc will post $0.47 EPS for the current fiscal year.
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Several brokerages recently commented on ODP. Zacks Investment Research upgraded shares of Office Depot from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Friday, December 30th. Jefferies Group LLC reiterated a “hold” rating and issued a $4.50 target price on shares of Office Depot in a report on Friday, March 3rd. Finally, Loop Capital reiterated a “hold” rating and issued a $5.00 target price on shares of Office Depot in a report on Monday, February 27th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.72.
In other news, EVP Stephen R. Calkins sold 45,434 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $4.57, for a total transaction of $207,633.38. Following the completion of the sale, the executive vice president now owns 443,586 shares of the company’s stock, valued at $2,027,188.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael R. Allison sold 35,000 shares of the stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $4.61, for a total value of $161,350.00. Following the sale, the insider now directly owns 852,107 shares of the company’s stock, valued at approximately $3,928,213.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,402 shares of company stock valued at $460,891. Insiders own 1.47% of the company’s stock.
About Office Depot
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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