Amalgamated Bank decreased its stake in shares of The ODP Co. (NASDAQ:ODP – Get Rating) by 5.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,612 shares of the specialty retailer's stock after selling 1,202 shares during the period. Amalgamated Bank's holdings in ODP were worth $945,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of ODP. Mascoma Wealth Management LLC bought a new stake in ODP in the 1st quarter valued at about $74,000. SkyView Investment Advisors LLC bought a new stake in ODP in the 4th quarter valued at about $364,000. PNC Financial Services Group Inc. boosted its holdings in ODP by 9.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer's stock valued at $139,000 after purchasing an additional 270 shares during the period. Gladius Capital Management LP boosted its holdings in ODP by 31.4% in the 1st quarter. Gladius Capital Management LP now owns 3,523 shares of the specialty retailer's stock valued at $162,000 after purchasing an additional 842 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of ODP during the 1st quarter worth approximately $203,000. Institutional investors own 92.15% of the company's stock.
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Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on ODP. UBS Group cut their price target on shares of ODP from $50.00 to $41.00 and set a "neutral" rating for the company in a 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, August 31st.
Insider Buying and Selling
In related news, EVP Zoe Maloney sold 6,800 shares of the company's stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $36.86, for a total transaction of $250,648.00. Following the completion of the transaction, the executive vice president now directly owns 21,932 shares in the company, valued at approximately $808,413.52. The transaction was disclosed in a filing with the SEC, which is available through
the SEC website. 3.00% of the stock is owned by corporate insiders.
ODP Price Performance
ODP stock opened at $35.66 on Friday. The company has a 50 day simple moving average of $36.47 and a 200 day simple moving average of $38.71. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -20.03 and a beta of 1.85. The ODP Co. has a 1 year low of $28.85 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.06 and a quick ratio of 0.55.
ODP (NASDAQ:ODP – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The specialty retailer reported $0.79 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.79. The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.04 billion. ODP had a negative net margin of 1.08% and a positive return on equity of 14.99%. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Research analysts anticipate that The ODP Co. will post 4.3 EPS for the current fiscal year.
ODP Profile
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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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