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Profund Advisors LLC Raises Stock Holdings in The ODP Co. (NASDAQ:ODP)

Defense World ·  08/28 18:01

Profund Advisors LLC boosted its holdings in The ODP Co. (NASDAQ:ODP – Get Rating) by 24.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,374 shares of the specialty retailer's stock after buying an additional 1,239 shares during the quarter. Profund Advisors LLC's holdings in ODP were worth $292,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ODP. Envestnet Asset Management Inc. bought a new stake in shares of ODP during the 4th quarter valued at about $426,000. ProShare Advisors LLC grew its stake in shares of ODP by 56.5% during the 4th quarter. ProShare Advisors LLC now owns 11,535 shares of the specialty retailer's stock valued at $453,000 after purchasing an additional 4,165 shares during the period. First Trust Advisors LP grew its stake in shares of ODP by 374.2% during the 4th quarter. First Trust Advisors LP now owns 59,524 shares of the specialty retailer's stock valued at $2,338,000 after purchasing an additional 46,971 shares during the period. Teacher Retirement System of Texas grew its stake in shares of ODP by 20.5% during the 4th quarter. Teacher Retirement System of Texas now owns 10,396 shares of the specialty retailer's stock valued at $408,000 after acquiring an additional 1,766 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in shares of ODP by 11.1% during the 4th quarter. Rafferty Asset Management LLC now owns 24,904 shares of the specialty retailer's stock valued at $978,000 after acquiring an additional 2,497 shares during the period. 94.48% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

ODP has been the subject of a number of recent research reports. UBS Group cut their price objective on ODP from $50.00 to $41.00 and set a "neutral" rating for the company in a research note on Thursday, August 4th. StockNews.com downgraded ODP from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 5th.

Insiders Place Their Bets

In other news, EVP Zoe Maloney sold 6,800 shares of the company's stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $36.86, for a total transaction of $250,648.00. Following the sale, the executive vice president now directly owns 21,932 shares of the company's stock, valued at approximately $808,413.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

ODP Trading Down 2.9 %

ODP stock opened at $35.88 on Friday. 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. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -20.16 and a beta of 1.89. The business has a 50 day simple moving average of $34.34 and a two-hundred day simple moving average of $39.95.

ODP (NASDAQ:ODP – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The specialty retailer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.33. ODP had a positive return on equity of 14.99% and a negative net margin of 1.08%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. Research analysts anticipate that The ODP Co. will post 4.3 EPS for the current fiscal year.

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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