Office Depot Inc (ODP) Shares Obtained by Bank of Montreal Can

Office Depot Inc (ODP) Shares Obtained by Bank of Montreal Can

Bank of Montreal Can boosted its stake in Office Depot Inc (NASDAQ:ODP) by 49.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,617 shares of the specialty retailer’s stock after buying an additional 17,114 shares during the period. Bank of Montreal Can’s holdings in Office Depot were worth $241,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Office Depot by 26.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 22,026,757 shares of the specialty retailer’s stock valued at $99,563,000 after buying an additional 4,617,613 shares in the last quarter. Paulson & CO. Inc. purchased a new stake in shares of Office Depot during the fourth quarter valued at about $68,983,000. ANTIPODES PARTNERS Ltd raised its stake in shares of Office Depot by 23.5% in the first quarter. ANTIPODES PARTNERS Ltd now owns 10,126,124 shares of the specialty retailer’s stock valued at $46,586,000 after buying an additional 1,927,796 shares in the last quarter. Norges Bank purchased a new stake in shares of Office Depot during the fourth quarter valued at about $43,558,000. Finally, AQR Capital Management LLC raised its stake in shares of Office Depot by 16.3% in the fourth quarter. AQR Capital Management LLC now owns 7,473,434 shares of the specialty retailer’s stock valued at $33,780,000 after buying an additional 1,050,035 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Office Depot Inc (NASDAQ:ODP) opened at 5.16 on Friday. The firm’s 50-day moving average price is $5.02 and its 200 day moving average price is $4.72. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 4.66 and a beta of 3.26. Office Depot Inc has a 12-month low of $3.01 and a 12-month high of $5.54.

Office Depot (NASDAQ:ODP) last announced its earnings results on Tuesday, May 9th. The specialty retailer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Office Depot had a net margin of 2.41% and a return on equity of 11.70%. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the firm earned $0.10 earnings per share. Office Depot’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Office Depot Inc will post $0.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 25th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, May 23rd. Office Depot’s dividend payout ratio is currently 17.54%.

Several analysts recently issued reports on ODP shares. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Office Depot in a report on Tuesday, May 9th. Zacks Investment Research upgraded Office Depot from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, May 10th. Loop Capital reiterated a “hold” rating and set a $5.00 price objective on shares of Office Depot in a report on Monday, February 27th. Jefferies Group LLC reiterated a “hold” rating and set a $4.50 price objective on shares of Office Depot in a report on Friday, March 3rd. Finally, Telsey Advisory Group increased their price objective on Office Depot from $4.40 to $5.25 and gave the stock a “market perform” rating in a report on Wednesday, May 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.12.

In other Office Depot news, Chairman Joseph Vassalluzzo acquired 25,000 shares of Office Depot stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $4.70 per share, for a total transaction of $117,500.00. Following the completion of the acquisition, the chairman now directly owns 84,534 shares of the company’s stock, valued at $397,309.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen R. Calkins sold 15,436 shares of Office Depot stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $4.63, for a total transaction of $71,468.68. Following the transaction, the executive vice president now owns 469,229 shares of the company’s stock, valued at $2,172,530.27. The disclosure for this sale can be found here. Insiders have sold 166,619 shares of company stock valued at $797,274 over the last quarter. Corporate insiders own 1.47% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ODP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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