Commonwealth Bank of Australia grew its stake in shares of Office Depot Inc (NASDAQ:ODP) by 92.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,888,958 shares of the specialty retailer’s stock after purchasing an additional 904,900 shares during the quarter. Commonwealth Bank of Australia’s holdings in Office Depot were worth $4,773,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ODP. OppenheimerFunds Inc. lifted its stake in Office Depot by 47.0% in the first quarter. OppenheimerFunds Inc. now owns 1,284,071 shares of the specialty retailer’s stock worth $2,761,000 after acquiring an additional 410,566 shares during the period. Comerica Bank lifted its stake in Office Depot by 35.8% in the second quarter. Comerica Bank now owns 553,480 shares of the specialty retailer’s stock worth $1,511,000 after acquiring an additional 145,944 shares during the period. Allianz Asset Management GmbH lifted its stake in Office Depot by 161.2% in the first quarter. Allianz Asset Management GmbH now owns 690,172 shares of the specialty retailer’s stock worth $1,484,000 after acquiring an additional 425,945 shares during the period. Pinebridge Investments L.P. purchased a new stake in Office Depot in the second quarter worth $2,018,000. Finally, Zeke Capital Advisors LLC purchased a new stake in Office Depot in the second quarter worth $106,000. 90.55% of the stock is owned by hedge funds and other institutional investors.
ODP opened at $3.32 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 0.56 and a beta of 2.73. Office Depot Inc has a 12-month low of $2.00 and a 12-month high of $4.65.
Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. During the same quarter in the prior year, the company earned $0.06 earnings per share. equities analysts predict that Office Depot Inc will post 0.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 24th will be issued a $0.025 dividend. The ex-dividend date is Thursday, August 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 3.01%. Office Depot’s dividend payout ratio (DPR) is 22.22%.
ODP has been the subject of a number of research reports. ValuEngine upgraded Office Depot from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 24th. Bank of America reiterated a “buy” rating and issued a $4.00 price objective on shares of Office Depot in a report on Tuesday, August 7th. Zacks Investment Research upgraded Office Depot from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Thursday, August 9th. Finally, BidaskClub upgraded Office Depot from a “sell” rating to a “hold” rating in a report on Monday, May 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Office Depot has an average rating of “Hold” and an average price target of $3.88.
About Office Depot
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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