Office Depot, Inc. (ODP) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Office Depot, Inc. (NASDAQ:ODP) by 44.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,932,613 shares of the specialty retailer’s stock after selling 20,596,328 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 5.02% of Office Depot worth $146,260,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. grew its position 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 acquiring an additional 175 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Office Depot by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,400 shares of the specialty retailer’s stock worth $425,000 after buying an additional 197 shares in the last quarter. Advantus Capital Management Inc grew its position in shares of Office Depot by 0.4% during the first quarter. Advantus Capital Management Inc now owns 65,917 shares of the specialty retailer’s stock worth $308,000 after buying an additional 247 shares in the last quarter. Ronald Blue & Co. LLC grew its position in shares of Office Depot by 1.0% during the second quarter. Ronald Blue & Co. LLC now owns 25,905 shares of the specialty retailer’s stock worth $146,000 after buying an additional 266 shares in the last quarter. Finally, Oakbrook Investments LLC grew its position in shares of Office Depot by 2.7% during the second quarter. Oakbrook Investments LLC now owns 38,200 shares of the specialty retailer’s stock worth $215,000 after buying an additional 1,000 shares in the last quarter. 94.07% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on ODP. Bank of America Corporation restated a “buy” rating on shares of Office Depot in a research note on Sunday, August 13th. Deutsche Bank AG restated a “hold” rating and set a $5.00 price objective (down from $5.75) on shares of Office Depot in a research note on Thursday, August 10th. ValuEngine cut Office Depot from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Loop Capital reiterated a “hold” rating and issued a $5.00 target price on shares of Office Depot in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded Office Depot from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.38.

Shares of Office Depot, Inc. (NASDAQ:ODP) traded down 0.88% during trading on Friday, reaching $4.48. The company had a trading volume of 6,250,571 shares. Office Depot, Inc. has a 52-week low of $3.01 and a 52-week high of $6.26. The firm has a market capitalization of $2.32 billion, a P/E ratio of 5.80 and a beta of 3.08. The company has a 50 day moving average of $4.65 and a 200-day moving average of $5.01.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. Equities analysts expect that Office Depot, Inc. will post $0.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 25th were issued a $0.025 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.10 annualized dividend and a dividend yield of 2.23%. Office Depot’s dividend payout ratio (DPR) is currently 20.00%.

ILLEGAL ACTIVITY NOTICE: “Office Depot, Inc. (ODP) Shares Sold by Hotchkis & Wiley Capital Management LLC” was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/09/16/office-depot-inc-odp-shares-sold-by-hotchkis-wiley-capital-management-llc.html.

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.

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

Receive News & Ratings for Office Depot Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply