Office Depot Inc (ODP) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in shares of Office Depot Inc (NASDAQ:ODP) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 765,000 shares of the specialty retailer’s stock after acquiring an additional 6,800 shares during the period. Nordea Investment Management AB owned approximately 0.14% of Office Depot worth $1,974,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ODP. BlackRock Inc. grew its holdings in shares of Office Depot by 1.0% in the 4th quarter. BlackRock Inc. now owns 79,988,217 shares of the specialty retailer’s stock valued at $206,370,000 after buying an additional 814,056 shares during the period. Vanguard Group Inc. grew its holdings in shares of Office Depot by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 55,848,604 shares of the specialty retailer’s stock valued at $179,273,000 after buying an additional 1,386,023 shares during the period. Vanguard Group Inc grew its holdings in shares of Office Depot by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 55,848,604 shares of the specialty retailer’s stock valued at $179,273,000 after buying an additional 1,386,023 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Office Depot by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 46,732,156 shares of the specialty retailer’s stock valued at $120,568,000 after buying an additional 217,833 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Office Depot by 40.2% in the 4th quarter. LSV Asset Management now owns 22,481,392 shares of the specialty retailer’s stock valued at $58,001,000 after buying an additional 6,442,475 shares during the period. Institutional investors own 90.32% of the company’s stock.

Shares of Office Depot stock traded up $0.02 during trading hours on Wednesday, reaching $2.56. 11,421 shares of the company’s stock were exchanged, compared to its average volume of 7,758,397. Office Depot Inc has a fifty-two week low of $2.08 and a fifty-two week high of $3.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.74. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of 0.40 and a beta of 2.71.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, February 27th. The specialty retailer reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Office Depot had a net margin of 0.94% and a return on equity of 9.22%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the business posted $0.08 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Office Depot Inc will post 0.31 earnings per share for the current year.

A number of brokerages recently weighed in on ODP. BidaskClub lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America reaffirmed a “buy” rating and issued a $4.50 target price on shares of Office Depot in a research note on Thursday, February 28th. Finally, Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $3.92.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by XNewsPress and is the sole property of of XNewsPress. If you are accessing this news story on another domain, it was stolen and republished in violation of US and international trademark & copyright law. The original version of this news story can be accessed at https://xnewspress.com/news/2019/04/17/nordea-investment-management-ab-acquires-6800-shares-of-office-depot-inc-odp.html.

About Office Depot

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

Featured Article: What is Blockchain?

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

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