Office Depot, Inc. (ODP) Holdings Raised by Wells Fargo & Company MN

Wells Fargo & Company MN raised its position in shares of Office Depot, Inc. (NASDAQ:ODP) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,001,429 shares of the specialty retailer’s stock after acquiring an additional 149,001 shares during the period. Wells Fargo & Company MN owned approximately 0.19% of Office Depot worth $5,648,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Office Depot by 0.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 31,136 shares of the specialty retailer’s stock valued at $145,000 after buying an additional 175 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Office Depot by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,400 shares of the specialty retailer’s stock valued at $425,000 after buying an additional 197 shares during the last quarter. Advantus Capital Management Inc raised its position in shares of Office Depot by 0.4% during the first quarter. Advantus Capital Management Inc now owns 65,917 shares of the specialty retailer’s stock valued at $308,000 after buying an additional 247 shares during the last quarter. Ronald Blue & Co. LLC raised its position in shares of Office Depot by 1.0% during the second quarter. Ronald Blue & Co. LLC now owns 25,905 shares of the specialty retailer’s stock valued at $146,000 after buying an additional 266 shares during the last quarter. Finally, Oakbrook Investments LLC raised its position in shares of Office Depot by 2.7% during the second quarter. Oakbrook Investments LLC now owns 38,200 shares of the specialty retailer’s stock valued at $215,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 94.06% of the company’s stock.

Office Depot, Inc. (ODP) opened at 3.69 on Thursday. The company has a 50-day moving average of $4.26 and a 200 day moving average of $4.96. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 4.78 and a beta of 2.89. Office Depot, Inc. has a 52-week low of $3.01 and a 52-week high of $6.26.

Office Depot (NASDAQ:ODP) last issued its earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. Office Depot’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, equities research analysts anticipate that Office Depot, Inc. will post $0.46 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Wednesday, August 23rd. Office Depot’s payout ratio is presently 20.00%.

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ODP has been the subject of a number of research analyst reports. ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Office Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Bank of America Corporation reaffirmed a “buy” rating and set a $6.00 price objective on shares of Office Depot in a research report on Tuesday, September 5th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $5.00 price objective (down previously from $5.75) on shares of Office Depot in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $5.08.

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

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