Shell Asset Management Co. reduced its position in shares of The ODP Co. (NASDAQ: ODP – Get Rating) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,915 shares of the specialty retailer’s stock after selling 548 shares during the period. Shell Asset Management Co.’s holdings in ODP were worth $ 179,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Greenlight Capital Inc. boosted its stake in shares of ODP by 25.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,437,590 shares of the specialty retailer’s stock valued at $ 56,469,000 after purchasing an additional 290,658 shares during the period. Kite Lake Capital Management UK LLP boosted its stake in shares of ODP by 20.9% in the fourth quarter. Kite Lake Capital Management UK LLP now owns 894,501 shares of the specialty retailer’s stock valued at $ 35,136,000 after purchasing an additional 154,704 shares during the period. Credit Suisse AG boosted its stake in shares of ODP by 1,349.0% in the fourth quarter. Credit Suisse AG now owns 701,554 shares of the specialty retailer’s stock valued at $ 27,558,000 after purchasing an additional 653,137 shares during the period. Taconic Capital Advisors LP boosted its stake in shares of ODP by 22.1% in the fourth quarter. Taconic Capital Advisors LP now owns 574,358 shares of the specialty retailer’s stock valued at $ 22,561,000 after purchasing an additional 103,910 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of ODP by 29.6% in the fourth quarter. Invesco Ltd. now owns 531,858 shares of the specialty retailer’s stock valued at $ 20,891,000 after purchasing an additional 121,482 shares during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on ODP shares. UBS Group cut their price target on shares of ODP from $ 50.00 to $ 41.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com cut shares of ODP from a “strong-buy” rating to a “buy” rating in a report on Friday.
ODP Trading Up 1.0%
ODP opened at $ 37.13 on Monday. The stock has a market capitalization of $ 1.83 billion, a PE ratio of -20.86 and a beta of 1.89. The firm’s fifty day moving average price is $ 34.53 and its 200 day moving average price is $ 40.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.06 and a quick ratio of 0.60. The ODP Co. has a 12-month low of $ 28.85 and a 12-month high of $ 48.00.
ODP (NASDAQ: ODP – Get Rating) last issued its earnings results on Wednesday, August 3rd. The specialty retailer reported $ 0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.46 by $ 0.33. The company had revenue of $ 2.03 billion for 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 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 earnings per share. As a group, research analysts expect that The ODP Co. will post 4.3 EPS for the current fiscal year.
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 US
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