Dupont Capital Management Corp Raises Position in Office Depot, Inc. (ODP)

Dupont Capital Management Corp increased its stake in shares of Office Depot, Inc. (NASDAQ:ODP) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 137,327 shares of the specialty retailer’s stock after acquiring an additional 33,433 shares during the quarter. Dupont Capital Management Corp’s holdings in Office Depot were worth $623,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ODP. AJO LP lifted its position in Office Depot by 5,759.7% during the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock valued at $65,166,000 after purchasing an additional 11,357,003 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Office Depot by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer’s stock valued at $191,925,000 after purchasing an additional 5,677,685 shares during the last quarter. LSV Asset Management lifted its position in Office Depot by 125.9% during the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock valued at $44,269,000 after purchasing an additional 4,374,431 shares during the last quarter. Prudential Financial Inc. lifted its position in Office Depot by 72.2% during the second quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer’s stock valued at $56,396,000 after purchasing an additional 4,192,720 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in Office Depot by 51.4% during the second quarter. Teachers Advisors LLC now owns 6,143,890 shares of the specialty retailer’s stock valued at $34,652,000 after purchasing an additional 2,085,209 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

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Several equities analysts have commented on ODP shares. J P Morgan Chase & Co lowered shares of Office Depot from a “neutral” rating to an “underweight” rating in a research report on Monday, October 30th. ValuEngine lowered shares of Office Depot from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Bank of America Corporation restated a “buy” rating and issued a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $4.15 target price (down previously from $5.00) on shares of Office Depot in a report on Friday, October 6th. Two analysts have 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 a consensus price target of $5.08.

Shares of Office Depot, Inc. (NASDAQ:ODP) opened at $3.27 on Friday. The stock has a market cap of $1,687.71, a PE ratio of 6.96, a PEG ratio of 1.02 and a beta of 2.82. The company has a quick ratio of 0.92, a current ratio of 1.52 and a debt-to-equity ratio of 0.51. Office Depot, Inc. has a twelve month low of $2.97 and a twelve month high of $6.26.

Office Depot (NASDAQ:ODP) last released its earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. The business’s revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. research analysts expect that Office Depot, Inc. will post 0.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 3.06%. The ex-dividend date is Wednesday, November 22nd. Office Depot’s dividend payout ratio is presently 16.95%.

In related news, 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 value of $1,378,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.43% of the company’s stock.

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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