State of Tennessee Treasury Department lifted its stake in The ODP Co. (NASDAQ:ODP – Get Rating) by 17.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,785 shares of the specialty retailer's stock after acquiring an additional 2,695 shares during the quarter. State of Tennessee Treasury Department's holdings in ODP were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in ODP. Mascoma Wealth Management LLC bought a new stake in ODP during the first quarter valued at approximately $74,000. SkyView Investment Advisors LLC bought a new stake in ODP during the fourth quarter valued at approximately $364,000. Gladius Capital Management LP grew its position in ODP by 31.4% during the first quarter. Gladius Capital Management LP now owns 3,523 shares of the specialty retailer's stock valued at $162,000 after buying an additional 842 shares during the period. Strs Ohio bought a new stake in ODP during the first quarter valued at approximately $215,000. Finally, Point72 Hong Kong Ltd grew its position in ODP by 433.3% during the fourth quarter. Point72 Hong Kong Ltd now owns 4,714 shares of the specialty retailer's stock valued at $185,000 after buying an additional 3,830 shares during the period. 92.15% of the stock is currently owned by institutional investors.
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Analysts Set New Price Targets
Several analysts recently issued reports on the stock. UBS Group cut their target price on shares of ODP from $50.00 to $41.00 and set a "neutral" rating for the company in a research report on Thursday, August 4th. StockNews.com raised shares of ODP from a "buy" rating to a "strong-buy" rating in a report on Wednesday.
ODP Price Performance
Shares of NASDAQ:ODP opened at $35.87 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.06 and a quick ratio of 0.55. The ODP Co. has a 1-year low of $28.85 and a 1-year high of $48.00. The company has a market capitalization of $1.76 billion, a P/E ratio of -20.15 and a beta of 1.89. The firm's 50 day simple moving average is $34.72 and its two-hundred day simple moving average is $39.76.
ODP (NASDAQ:ODP – Get Rating) last released its earnings results on Wednesday, August 3rd. The specialty retailer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.46 by $0.33. ODP had a negative net margin of 1.08% and a positive return on equity of 14.99%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The company's quarterly revenue was down 11.0% compared to the same quarter last year. Research analysts expect that The ODP Co. will post 4.3 EPS for the current fiscal year.
Insider Transactions at ODP
In other news, EVP Zoe Maloney sold 6,800 shares of the business's stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $36.86, for a total value of $250,648.00. Following the transaction, the executive vice president now owns 21,932 shares of the company's stock, valued at $808,413.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company's stock.
About ODP
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The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, the U.S.
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