Office Depot, Inc. (ODP) Insider Michael R. Allison Sells 360,000 Shares
Office Depot, Inc. (NASDAQ:ODP) insider Michael R. Allison sold 360,000 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $3.83, for a total transaction of $1,378,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Office Depot, Inc. (NASDAQ ODP) traded down 0.53% during trading on Tuesday, hitting $3.76. 4,578,334 shares of the company were exchanged. Office Depot, Inc. has a 1-year low of $3.01 and a 1-year high of $6.26. The firm’s 50 day moving average price is $4.25 and its 200-day moving average price is $4.96. The stock has a market capitalization of $1.95 billion, a PE ratio of 4.87 and a beta of 2.89.
Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the company posted $0.06 EPS. Office Depot’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities analysts predict that Office Depot, Inc. will post $0.46 EPS for the current year.
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Large investors have recently modified their holdings of the stock. Pacad Investment Ltd. increased its holdings in Office Depot by 1,292.3% in the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after buying an additional 16,800 shares during the period. Eagle Global Advisors LLC acquired a new position in Office Depot in the 2nd quarter worth approximately $103,000. PNC Financial Services Group Inc. increased its holdings in Office Depot by 13.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after buying an additional 2,187 shares during the period. Bayesian Capital Management LP acquired a new position in Office Depot in the 2nd quarter worth approximately $105,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Office Depot in the 2nd quarter worth approximately $109,000. Institutional investors own 94.36% of the company’s stock.
A number of analysts have weighed in on ODP shares. ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Bank of America Corporation restated a “buy” rating and set a $6.00 price objective on shares of Office Depot in a research note on Tuesday, September 5th. Finally, Jefferies Group LLC restated a “hold” rating and set a $4.15 price objective (down from $5.00) on shares of Office Depot in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.08.
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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