HBK Investments L P lessened its position in shares of Office Depot Inc (NASDAQ:ODP) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,063,945 shares of the specialty retailer’s stock after selling 131,866 shares during the quarter. HBK Investments L P owned 0.59% of Office Depot worth $10,846,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System increased its position in Office Depot by 2.0% in the third quarter. California Public Employees Retirement System now owns 2,240,028 shares of the specialty retailer’s stock worth $10,170,000 after buying an additional 44,107 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Office Depot in the third quarter worth about $400,000. ClariVest Asset Management LLC increased its position in Office Depot by 5.5% in the third quarter. ClariVest Asset Management LLC now owns 1,256,800 shares of the specialty retailer’s stock worth $5,706,000 after buying an additional 65,300 shares in the last quarter. Creative Planning increased its position in Office Depot by 55.4% in the fourth quarter. Creative Planning now owns 107,931 shares of the specialty retailer’s stock worth $382,000 after buying an additional 38,499 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Office Depot in the third quarter worth about $344,000. Institutional investors own 92.92% of the company’s stock.
A number of analysts have commented on the company. ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Office Depot in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.08.
Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.58 billion. Office Depot had a return on equity of 11.74% and a net margin of 1.76%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. research analysts forecast that Office Depot Inc will post 0.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 2nd will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, March 1st. Office Depot’s payout ratio is presently 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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