Shares of Office Depot, Inc. (NASDAQ:ODP) have been given an average rating of “Hold” by the eleven research firms that are covering the company. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.53.
ODP has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Office Depot from a “hold” rating to a “sell” rating in a research note on Thursday, January 19th. Telsey Advisory Group reduced their target price on Office Depot from $5.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, October 28th. Finally, Loop Capital initiated coverage on Office Depot in a research note on Tuesday, December 13th. They issued a “hold” rating on the stock.
In related news, EVP Juliet Johansson sold 8,385 shares of the firm’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $4.73, for a total transaction of $39,661.05. Following the sale, the executive vice president now owns 234,782 shares of the company’s stock, valued at $1,110,518.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.47% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Elkfork Partners LLC acquired a new stake in shares of Office Depot during the fourth quarter valued at $105,000. CHICAGO TRUST Co NA increased its stake in shares of Office Depot by 49.9% in the third quarter. CHICAGO TRUST Co NA now owns 28,783 shares of the company’s stock valued at $103,000 after buying an additional 9,585 shares in the last quarter. ARP Americas LLC acquired a new stake in shares of Office Depot during the fourth quarter valued at $135,000. Airain ltd acquired a new stake in shares of Office Depot during the third quarter valued at $116,000. Finally, Credit Agricole S A acquired a new stake in shares of Office Depot during the fourth quarter valued at $149,000. 94.05% of the stock is currently owned by institutional investors.
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Office Depot (NASDAQ:ODP) traded up 2.73% during midday trading on Tuesday, hitting $4.52. 1,709,612 shares of the stock were exchanged. Office Depot has a 1-year low of $3.01 and a 1-year high of $7.91. The company’s 50 day moving average is $4.50 and its 200-day moving average is $4.04. The stock has a market cap of $2.39 billion, a PE ratio of 8.01 and a beta of 3.26.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, March 3rd will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 2.27%. Office Depot’s payout ratio is currently 17.54%.
Office Depot Company Profile
Office Depot, Inc (Office Depot) is a provider of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. It operates under the Office Depot and OfficeMax brands.
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