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The ODP Co. (NASDAQ:ODP) Shares Sold by Handelsbanken Fonder AB

Defense World ·  09/02 16:52

Handelsbanken Fonder AB decreased its holdings in The ODP Co. (NASDAQ:ODP – Get Rating) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,600 shares of the specialty retailer's stock after selling 2,900 shares during the period. Handelsbanken Fonder AB's holdings in ODP were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. State of Tennessee Treasury Department grew its stake in shares of ODP by 17.9% in the first quarter. State of Tennessee Treasury Department now owns 17,785 shares of the specialty retailer's stock worth $815,000 after acquiring an additional 2,695 shares in the last quarter. Alta Fundamental Advisers LLC lifted its position in shares of ODP by 15.9% during the 1st quarter. Alta Fundamental Advisers LLC now owns 388,139 shares of the specialty retailer's stock worth $17,788,000 after purchasing an additional 53,170 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of ODP by 67.9% during the 1st quarter. JPMorgan Chase & Co. now owns 357,529 shares of the specialty retailer's stock worth $16,385,000 after purchasing an additional 144,572 shares during the last quarter. Profund Advisors LLC lifted its position in shares of ODP by 24.1% during the 1st quarter. Profund Advisors LLC now owns 6,374 shares of the specialty retailer's stock worth $292,000 after purchasing an additional 1,239 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its position in shares of ODP by 31.8% during the 1st quarter. Clear Harbor Asset Management LLC now owns 16,166 shares of the specialty retailer's stock worth $741,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

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Insider Activity at ODP

In related 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 completion of the sale, the executive vice president now directly owns 21,932 shares of the company's stock, valued at $808,413.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

ODP Price Performance

Shares of ODP opened at $35.87 on Friday. The ODP Co. has a 1-year low of $28.85 and a 1-year high of $48.00. The stock has a market cap of $1.76 billion, a PE ratio of -20.15 and a beta of 1.89. 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 firm has a fifty day moving average price of $34.72 and a 200 day moving average price of $39.76.

ODP (NASDAQ:ODP – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The specialty retailer reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the previous year, the company earned $0.51 earnings per share. ODP's quarterly revenue was down 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The ODP Co. will post 4.3 EPS for the current year.

Wall Street Analysts Forecast Growth

ODP has been the subject of several recent analyst reports. StockNews.com raised shares of ODP from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. UBS Group decreased their price objective 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.

ODP Company 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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