GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in The ODP Co. (NASDAQ:ODP – Get Rating) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,058 shares of the specialty retailer's stock after purchasing an additional 4,359 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.06% of ODP worth $1,423,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cannell Capital LLC lifted its position in ODP by 3.4% during the 1st quarter. Cannell Capital LLC now owns 683,827 shares of the specialty retailer's stock valued at $31,340,000 after acquiring an additional 22,693 shares during the period. KB Financial Partners LLC lifted its position in ODP by 7.0% during the 1st quarter. KB Financial Partners LLC now owns 9,344 shares of the specialty retailer's stock valued at $428,000 after acquiring an additional 608 shares during the period. SkyView Investment Advisors LLC lifted its position in ODP by 264.6% during the 1st quarter. SkyView Investment Advisors LLC now owns 10,027 shares of the specialty retailer's stock valued at $460,000 after acquiring an additional 7,277 shares during the period. Royal Bank of Canada lifted its position in ODP by 43.6% during the 1st quarter. Royal Bank of Canada now owns 11,127 shares of the specialty retailer's stock valued at $510,000 after acquiring an additional 3,381 shares during the period. Finally, Shay Capital LLC purchased a new position in ODP during the 1st quarter valued at about $348,000. 92.15% of the stock is owned by hedge funds and other institutional investors.
Get ODP alerts:Insider Transactions at ODP
In other news, EVP Zoe Maloney sold 6,800 shares of ODP stock in a transaction that occurred 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 in the company, valued at $808,413.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on ODP shares. UBS Group lowered their price target 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, August 31st.ODP Stock Down 3.4 %
Shares of ODP stock opened at $36.63 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.55 and a current ratio of 1.06. The stock has a market capitalization of $1.80 billion, a PE ratio of -20.58 and a beta of 1.85. The ODP Co. has a 52-week low of $28.85 and a 52-week high of $48.00. The company has a 50-day simple moving average of $35.61 and a two-hundred day simple moving average of $39.29.
ODP (NASDAQ:ODP – Get Rating) last issued its earnings results on Wednesday, August 3rd. The specialty retailer reported $0.79 earnings per share (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 business 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. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, analysts anticipate that The ODP Co. will post 4.3 EPS for the current fiscal year.
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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