KBC Group NV Has $216,000 Position in Office Depot, Inc. (ODP)

KBC Group NV continued to hold its stake in Office Depot, Inc. (NASDAQ:ODP) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 46,206 shares of the specialty retailer’s stock at the end of the first quarter. KBC Group NV’s holdings in Office Depot were worth $216,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ODP. Envestnet Asset Management Inc. raised its stake in Office Depot by 8.2% in the first quarter. Envestnet Asset Management Inc. now owns 25,558 shares of the specialty retailer’s stock worth $119,000 after buying an additional 1,927 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Office Depot by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 189,997 shares of the specialty retailer’s stock worth $886,000 after buying an additional 2,500 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Office Depot by 19.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,787 shares of the specialty retailer’s stock worth $120,000 after buying an additional 4,202 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Office Depot by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 420,766 shares of the specialty retailer’s stock worth $1,963,000 after buying an additional 4,599 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Office Depot by 6.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 91,280 shares of the specialty retailer’s stock worth $413,000 after buying an additional 5,890 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

Institutional Ownership by Quarter for Office Depot (NASDAQ:ODP)

Shares of Office Depot, Inc. (NASDAQ ODP) opened at 5.60 on Friday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 5.05 and a beta of 2.91. Office Depot, Inc. has a one year low of $3.01 and a one year high of $5.70. The company’s 50 day moving average price is $5.21 and its 200 day moving average price is $4.79.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Tuesday, May 9th. The specialty retailer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Office Depot had a net margin of 3.93% and a return on equity of 13.39%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, analysts expect that Office Depot, Inc. will post $0.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, May 25th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, May 23rd. This represents a $0.10 annualized dividend and a yield of 1.79%. Office Depot’s dividend payout ratio (DPR) is presently 12.05%.

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Several analysts recently issued reports on the company. Telsey Advisory Group increased their price objective on Office Depot from $4.40 to $5.25 and gave the stock a “market perform” rating in a report on Wednesday, May 10th. Jefferies Group LLC reiterated a “hold” rating and set a $5.00 price objective (up from $4.50) on shares of Office Depot in a report on Wednesday, May 10th. BidaskClub upgraded Office Depot from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Loop Capital reiterated a “hold” rating and set a $5.00 price objective on shares of Office Depot in a report on Monday, February 27th. Finally, Zacks Investment Research upgraded Office Depot from a “sell” rating to a “hold” rating in a report on Friday, March 3rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.12.

In other Office Depot news, EVP Stephen R. Calkins sold 45,434 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $4.57, for a total transaction of $207,633.38. Following the sale, the executive vice president now directly owns 443,586 shares of the company’s stock, valued at approximately $2,027,188.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael R. Allison sold 66,217 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $5.08, for a total transaction of $336,382.36. Following the sale, the insider now directly owns 763,691 shares in the company, valued at $3,879,550.28. The disclosure for this sale can be found here. Insiders own 2.43% of the company’s stock.

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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