AMG Funds LLC reduced its stake in shares of Office Depot, Inc. (NASDAQ:ODP) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 443,585 shares of the specialty retailer’s stock after selling 8,617 shares during the quarter. Office Depot comprises about 1.4% of AMG Funds LLC’s portfolio, making the stock its 10th biggest position. AMG Funds LLC owned 0.09% of Office Depot worth $2,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Office Depot by 0.6% in 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 period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Office Depot by 0.3% in 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 period. Advantus Capital Management Inc lifted its holdings in Office Depot by 0.4% in 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 period. Ronald Blue & Co. LLC lifted its holdings in Office Depot by 1.0% in 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 period. Finally, Oakbrook Investments LLC lifted its holdings in Office Depot by 2.7% in 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 period. 94.06% of the stock is currently owned by institutional investors and hedge funds.
Office Depot, Inc. (NASDAQ ODP) opened at 4.37 on Friday. Office Depot, Inc. has a 12 month low of $3.01 and a 12 month high of $6.26. The firm has a market capitalization of $2.27 billion, a PE ratio of 5.66 and a beta of 3.08. The stock has a 50 day moving average of $4.57 and a 200 day moving average of $5.01.
Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, equities analysts predict that Office Depot, Inc. will post $0.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.29%. Office Depot’s dividend payout ratio (DPR) is presently 20.00%.
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Several equities research analysts have weighed in on the stock. BidaskClub lowered shares of Office Depot from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Bank of America Corporation reiterated a “buy” rating and issued a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Loop Capital restated a “hold” rating and set a $5.00 price objective on shares of Office Depot in a report on Wednesday, July 12th. Finally, ValuEngine downgraded shares of Office Depot from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.38.
About Office Depot
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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