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ODP $49.89

ODP target price
49.89
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Office Depot, Inc.
Type
Public
Traded as NASDAQ: ODP
S&P 400 Component
Industry Specialty retail
Founded October 1986; 31 years ago (1986-10)
Founder F. Patrick Sher
Headquarters Boca Raton, Florida, United States
Number of locations
1,912 (December 2013)
Area served
North America
Key people
Gerry Smith
(Chairman and CEO)
Stephen Hare (CFO
Troy Rice (EVP)
Products Office supplies, Technology, Furniture, Copy & Print, Shipping Services
Brands Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, DiVOGA
Revenue Decrease US$14.485 billion (2015)
Operating income
Increase US$ 115 million (2015)
Net income
Increase US$ 8 million (2015)
Total assets Decrease US$6.442 billion (2015)
Total equity Decrease US$1.603 billion (2015)
Number of employees
49,000 (2016)
Subsidiaries OfficeMax
Grand & Toy
Viking Direct
Website officedepot.com

Office Depot, Inc. is an American office supply retailing company headquartered in Boca Raton, Florida, United States. The company has combined annual sales of approximately $14 billion and employs about 66,000 associates with businesses in 59 countries. The company operates 2,200 retail stores, e-commerce sites and a business-to-business sales organization. The company’s portfolio of brands includes Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, and DiVOGA.

Office Depot was founded in October 1986 by F. Patrick Sher, the former chairman and chief executive officer; Stephen Dougherty, the president; and Jack Kopkin, the executive vice president. All three were formerly associated with Mr. HOW Warehouse, a home improvement company that Sher sold to Service Merchandise in 1983. The company opened its first store at Lakes Mall in Lauderdale Lakes, Florida in October 1986.

On February 20, 2013, it was announced that Office Depot and OfficeMax would combine in an all-stock deal, pending regulatory approval and stockholder approval. On November 5, 2013, the merger was completed.

On February 4, 2015, it was announced that rival Staples had agreed to purchase Office Depot in a cash and stock deal worth approximately $6.3 billion. However, in December 2015, the Federal Trade Commission voted to block the merger. On May 10, 2016, the United States District Court for the District of Columbia granted the FTC a preliminary injunction against the merger. After the ruling, Office Depot and Staples announced termination of their proposed merger.

This is a list of other events and milestones that have to do with Office Depot, Inc.

Office Depot has structured its environmental strategy around three concepts: Buying Green, Being Green, and Selling Green. Initiatives supporting this strategy include the following below:

In 2005, Office Depot became known as the “Official Office Products Partner of NASCAR”, a title that the company continues to hold to this day. Also in 2005, Office Depot signed on as the primary sponsor of the #99 Ford Fusion, owned by Roush Fenway Racing and previously driven by Carl Edwards. They sponsored Edwards until the end of the 2008 NASCAR Sprint Cup Series season. In 2008, Office Depot announced that it would become the co-primary sponsor for Tony Stewart and the No. 14 Chevrolet at Stewart-Haas Racing in 2009. In September 2012, Office Depot announced it would not renew sponsorship with Tony Stewart or Stewart-Haas Racing.

In 2012, Office Depot partnered with the Born This Way Foundation, which was started by Lady Gaga to sell limited edition office supplies and give 25% (1/4) of the money earned to the organization.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-01 Future report Set alerts
Q2 2022 2022-08-03 0.79 0.79
Q1 2022 2022-05-04 1.27 1.27
Q4 2021 2022-02-23 0.71 0.71
Q3 2021 2021-11-03 1.76 1.76
Q2 2021 2021-08-04 0.51 0.51
Q1 2021 2021-05-05 1.21 1.21
Q4 2020 2021-02-24 0.55 0.55
Q3 2020 2020-11-05 0.00 0.00
Q2 2020 2020-08-05 -0.07 -8.20

Ratings

2016-05-26 Downgrade Jefferies Group Buy to Hold $5.25
2016-05-17 Reiterated Rating Jefferies Group Hold to Buy
2016-05-16 Reiterated Rating Bank of America Buy
2016-05-16 Reiterated Rating Bank of America Corp. Buy
2016-05-15 Reiterated Rating Wells Fargo Equal Weight
2016-05-15 Reiterated Rating Wells Fargo & Co. Equal Weight
2016-05-11 Downgrade Telsey Advisory Group Outperform to Market Perform $6.50 to $5.00
2016-05-02 Reiterated Rating JPMorgan Chase & Co. Hold
2016-04-27 Reiterated Rating Jefferies Group Buy
2016-04-14 Reiterated Rating Deutsche Bank Hold
2016-04-14 Reiterated Rating Deutsche Bank AG Hold
2016-03-07 Lower Price Target Credit Suisse Outperform $10.50 to $8.00
2016-03-07 Lower Price Target Credit Suisse Group AG Outperform $10.50 to $8.00
2016-02-24 Lower Price Target Telsey Advisory Group Outperform $7.50 to $6.50
2016-02-24 Lower Price Target Deutsche Bank Hold $6.00 to $5.50
2015-12-11 Initiated Coverage Bank of America Buy $8.00
2015-12-08 Reiterated Rating Deutsche Bank Hold $11.00 to $6.00
2015-12-08 Boost Price Target Telsey Advisory Group Outperform $7.50 to $11.00
2015-09-13 Upgrade B. Riley Buy $11.00
2015-09-08 Upgrade B. Riley Neutral to Buy $11.00
2015-08-10 Reiterated Rating B. Riley Neutral $11.00
2015-08-05 Reiterated Rating B. Riley Neutral $11.00
2015-07-31 Reiterated Rating B. Riley Neutral $11.00
2015-07-24 Reiterated Rating Cleveland Research Neutral
2015-06-25 Upgrade Telsey Advisory Group Market Perform to Outperform $11.00
2015-05-08 Reiterated Rating B. Riley Neutral $11.00
2015-05-06 Reiterated Rating Oppenheimer Market Perform
2015-05-06 Reiterated Rating Oppenheimer Holdings Inc. Market Perform
2015-05-01 Reiterated Rating B. Riley Neutral $11.00
2015-04-30 Upgrade Jefferies Group Hold to Buy $9.50 to $11.60
2015-03-04 Reiterated Rating B. Riley Neutral $11.00
2015-02-25 Set Price Target Jefferies Group Hold $6.50 to $9.50
2015-02-24 Reiterated Rating B. Riley Neutral $11.00
2015-02-22 Reiterated Rating B. Riley Neutral $11.00
2015-02-20 Reiterated Rating B. Riley Neutral $11.00
2015-02-10 Downgrade B. Riley Neutral $11.00
2015-02-08 Downgrade B. Riley Neutral $11.00
2015-02-05 Downgrade Janney Montgomery Scott Buy to Neutral
2015-02-04 Downgrade BB&T Corp. Buy to Hold
2015-02-04 Downgrade B. Riley Buy to Neutral $11.00
2015-02-02 Boost Price Target Telsey Advisory Group Market Perform $7.00 to $9.00
2014-12-16 Upgrade BB&T Corp. Hold to Buy $11.00 to $11.00
2014-12-12 Reiterated Rating Bank of America Buy $8.00 to $9.50
2014-11-17 Downgrade Goldman Sachs Buy to Neutral $7.15
2014-11-17 Downgrade Goldman Sachs Group Inc. Buy to Neutral $7.15
2014-11-05 Reiterated Rating KeyBanc Buy $7.00 to $8.50
2014-11-05 Reiterated Rating Deutsche Bank Hold $5.25 to $7.00
2014-11-05 Reiterated Rating Jefferies Group Hold $6.50 to $5.25
2014-11-05 Reiterated Rating KeyCorp Buy $7.00 to $8.50
2014-11-04 Reiterated Rating Morgan Stanley Equal Weight $6.35 to $7.50
2014-06-24 Initiated Coverage Goldman Sachs Equal Weight $6.35
2014-06-24 Initiated Coverage Morgan Stanley Equal Weight $6.35
2014-05-27 Upgrade Goldman Sachs Neutral to Buy $5.40 to $7.00
2014-05-07 Upgrade Credit Suisse Neutral to Outperform $6.13 to $7.00
2014-05-07 Boost Price Target Jefferies Group $5.00 to $5.25
2014-05-05 Initiated Coverage Goldman Sachs Neutral
2014-03-21 Downgrade JPMorgan Chase & Co. Overweight to Neutral
2014-02-27 Boost Price Target Jefferies Group Hold $4.00 to $5.00
2014-02-26 Lower Price Target Telsey Advisory Group Not Rated $7.00 to $6.00
2013-11-14 Initiated Coverage Goldman Sachs Neutral to Market Perform $78.00 to $6.50
2013-11-14 Upgrade Bank of America Underperform to Buy $3.50 to $6.50
2013-11-06 Upgrade B. Riley & Co. Neutral to Buy
2013-11-06 Boost Price Target KeyBanc Buy $6.50 to $7.00
2013-11-06 Boost Price Target Barclays Equal Weight $5.00 to $6.00
2013-11-06 Upgrade B. Riley Neutral to Buy
2013-11-04 Boost Price Target Deutsche Bank Hold $4.00 to $6.25
2013-10-15 Boost Price Target KeyBanc $5.50 to $6.50
2013-10-10 Upgrade Janney Montgomery Scott Neutral to Buy
2013-05-01 Reiterated UBS Neutral $5 to $4.50
2013-03-18 Upgrade KeyBanc Capital Mkts Hold to Buy
2013-02-21 Reiterated Deutsche Bank Hold $3.50 to $5.50
2013-02-20 Reiterated Barclays Equal Weight $3 to $5
2011-08-17 Upgrade UBS Sell to Neutral $3 to $3
2011-06-07 Initiated Barclays Capital Underweight $4
2011-03-30 Initiated Caris & Company Average $5
2010-10-28 Reiterated Deutsche Bank Hold $6 to $5
2010-10-25 Reiterated Oppenheimer Perform $7 to $5
2010-07-28 Reiterated Deutsche Bank Hold $8 to $6
2010-06-24 Upgrade FBR Capital Mkt Perform to Outperform $7
2010-05-14 Upgrade Oppenheimer Underperform to Perform $3 to $7
2010-04-07 Initiated Barclays Capital Equal Weight $9
2010-03-19 Initiated BB&T Capital Mkts Hold
2009-11-02 Downgrade Credit Suisse Neutral to Underperform $4
2009-09-17 Initiated Janney Mntgmy Scott Neutral
2009-07-29 Reiterated FBR Capital Mkt Perform $4 to $3.50
2016-05-26 Downgrade Jefferies Group Buy to Hold $5.25
2016-05-17 Reiterated Rating Jefferies Group Hold to Buy
2016-05-16 Reiterated Rating Bank of America Buy
2016-05-16 Reiterated Rating Bank of America Corp. Buy
2016-05-15 Reiterated Rating Wells Fargo Equal Weight

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Smith Jeffrey C 5.37%  (28872697) AAP / DRI / ISSI / MCRL / ODP / PRGO / QTM / RGS / SRDX / YHOO /
SMITH ROLAND Chairman & CEO 0.64%  (3460495) CKEC / DNKN / ODP / WEN /
SMITH GERRY P Chief Executive Officer 0.51%  (2731019) ODP /
Saligram Ravichandra Krishnamurty Co-Chairman & Co-CEO 0.36%  (1914365) ARMK / CHD / ODP / RBA /
HARE STEPHEN E EVP & Chief Financial Officer 0.20%  (1073857) HGR / ODP / WEN /
COSBY MARK President, North America 0.17%  (927767) CVS / ODP /
Lower Joseph T EVP & Chief Financial Officer 0.16%  (852552) BEAV / ODP /
Garcia C Elisa D EVP, General Counsel & Secy 0.14%  (730704) M / ODP /
Schmidt Steven Mark President, International 0.13%  (691590) ODP /
Calkins Stephen R EVP-Chief Legal Officer & Secy 0.10%  (550095) ODP /
GANGWAL RAKESH 0.10%  (533776) KMX / ODP / PETM /
Lalla Ronald EVP, Merchandising 0.08%  (417232) ODP /
NEWMAN MICHAEL D EVP & Chief Financial Officer 0.08%  (416779) ODP /
RICE TROY EVP, Chief Operating Officer 0.07%  (358187) ODP /
Broad Matthew R EVP, Co-General Counsel 0.07%  (357215) DRI / ODP /
Allison Michael R EVP - Human Resources 0.06%  (337474) ODP /
GANNFORS JOHN EVP-Transformation & Strategic 0.06%  (334852) ODP /
DEVARD JERRI EVP & Chief Marketing Officer 0.06%  (330836) ADT / ODP / UA /
Koch John Robert EVP, Business Development 0.06%  (324931) ODP /
Bleisch N. David EVP-Chief Legal Officer & Secy 0.06%  (322457) ADT / ODP /
BRYANT WARREN F 0.05%  (277627) DG / ODP /
Stone Dan Joshua President, CompuCom 0.05%  (264317) ODP /
TRAVIS NIGEL 0.05%  (256213) DNKN / LO / ODP /
Moehler Kim S Sr Vice President & Controller 0.05%  (251650) ODP /
Hale Brian Todd EVP, Chief Information Officer 0.04%  (237735) ODP /
Johansson Juliet EVP & Chief Strategy Officer 0.04%  (234782) ODP /
MOFFITT KEVIN SVP, Chief Retail Officer 0.04%  (232749) ODP /
Barr Jim EVP, Chief Digital Officer 0.04%  (229623) ODP / RBA /
Marino Vincent James 0.04%  (199973) ODP / PVH /
SCHIJNS JANET EVP, Chief Mrch & Svs Officer 0.03%  (175041) ODP /
Beauchamp Timothy J EVP, Supply Chain 0.02%  (125527) ODP /
VASSALLUZZO JOSEPH 0.02%  (84534) FRT / LTM / ODP /
RABINOVITCH MICHAEL Sr Vice President & Controller 0.02%  (83839) ODP / TECD /
Kriss Scott A SVP & Chief Accounting Officer 0.01%  (62959) ODP / WEN /