Office Depot Inc (ODP) Stake Decreased by Meeder Asset Management Inc.

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Meeder Asset Management Inc. reduced its stake in shares of Office Depot Inc (NASDAQ:ODP) by 24.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,872 shares of the specialty retailer’s stock after selling 68,765 shares during the period. Meeder Asset Management Inc.’s holdings in Office Depot were worth $667,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in Office Depot by 34.0% during the 2nd quarter. BlackRock Inc. now owns 72,728,081 shares of the specialty retailer’s stock worth $185,458,000 after purchasing an additional 18,466,409 shares in the last quarter. SG Americas Securities LLC increased its position in Office Depot by 557.0% during the 2nd quarter. SG Americas Securities LLC now owns 10,316,418 shares of the specialty retailer’s stock worth $26,307,000 after purchasing an additional 8,746,140 shares in the last quarter. Laurion Capital Management LP increased its position in Office Depot by 38,083.7% during the 2nd quarter. Laurion Capital Management LP now owns 4,849,336 shares of the specialty retailer’s stock worth $12,366,000 after purchasing an additional 4,836,636 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Office Depot by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 42,881,014 shares of the specialty retailer’s stock worth $109,349,000 after purchasing an additional 4,618,163 shares in the last quarter. Finally, Millennium Management LLC increased its position in Office Depot by 663.7% during the 2nd quarter. Millennium Management LLC now owns 2,370,562 shares of the specialty retailer’s stock worth $6,045,000 after purchasing an additional 2,060,152 shares in the last quarter. Institutional investors and hedge funds own 90.72% of the company’s stock.

Shares of NASDAQ:ODP opened at $3.25 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.35 and a quick ratio of 0.85. Office Depot Inc has a 52-week low of $2.00 and a 52-week high of $3.66. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 7.22 and a beta of 2.65.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, November 7th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Office Depot had a net margin of 0.59% and a return on equity of 8.90%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter last year, the company earned $0.14 earnings per share. Office Depot’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that Office Depot Inc will post 0.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 23rd will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, November 21st. Office Depot’s dividend payout ratio (DPR) is 22.22%.

ODP has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. ValuEngine raised shares of Office Depot from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Zacks Investment Research downgraded shares of Office Depot from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, Bank of America reissued a “buy” rating and set a $4.00 target price on shares of Office Depot in a research report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Office Depot currently has an average rating of “Hold” and a consensus price target of $4.17.

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Office Depot Company Profile

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

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