Axa grew its position in Office Depot, Inc. (NASDAQ:ODP) by 391.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 640,500 shares of the specialty retailer’s stock after buying an additional 510,300 shares during the quarter. Axa owned 0.12% of Office Depot worth $3,612,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in Office Depot by 33.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 5,400 shares in the last quarter. Pacad Investment Ltd. increased its position in Office Depot by 1,292.3% during the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 16,800 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in Office Depot during the 2nd quarter worth approximately $103,000. Stratos Wealth Partners LTD. acquired a new position in Office Depot during the 2nd quarter worth approximately $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Office Depot by 11.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,425 shares of the specialty retailer’s stock worth $110,000 after purchasing an additional 2,046 shares in the last quarter. Institutional investors own 94.06% of the company’s stock.
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Shares of Office Depot, Inc. (NASDAQ ODP) opened at 4.42 on Tuesday. Office Depot, Inc. has a 1-year low of $3.01 and a 1-year high of $6.26. The stock has a 50 day moving average of $4.61 and a 200-day moving average of $5.01. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 5.73 and a beta of 3.08.
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 consensus estimate of $0.09 by ($0.03). The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.44 billion. Office Depot had a return on equity of 13.97% and a net margin of 2.49%. Office Depot’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 EPS. Analysts forecast that Office Depot, Inc. will post $0.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 2.26%. The ex-dividend date was Wednesday, August 23rd. Office Depot’s dividend payout ratio is presently 20.00%.
ODP has been the topic of a number of research reports. Zacks Investment Research lowered shares of Office Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Loop Capital reissued a “hold” rating and set a $5.00 target price on shares of Office Depot in a report on Wednesday, July 12th. Bank of America Corporation reissued a “buy” rating and set a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Deutsche Bank AG reissued a “hold” rating and set a $5.00 target price (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Finally, ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.38.
Office Depot 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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