Jupiter Asset Management Ltd. Cuts Stake in The ODP Co. (NASDAQ:ODP)

Jupiter Asset Management Ltd. lessened its holdings in shares of The ODP Co. (NASDAQ:ODP) by 68.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,110 shares of the specialty retailer’s stock after selling 50,392 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.06% of ODP worth $908,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ODP. CWM LLC boosted its stake in ODP by 81.3% in the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 422 shares in the last quarter. Quest Partners LLC purchased a new position in shares of ODP in the fourth quarter worth $63,000. Innealta Capital LLC acquired a new stake in shares of ODP during the second quarter worth $68,000. Gladius Capital Management LP grew its holdings in shares of ODP by 227.8% during the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after buying an additional 1,515 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of ODP in the 2nd quarter valued at $164,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ODP shares. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. UBS Group dropped their target price on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Insiders Place Their Bets

In other news, Director Wendy Lee Schoppert bought 3,875 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $25.77 per share, with a total value of $99,858.75. Following the acquisition, the director now directly owns 3,875 shares in the company, valued at $99,858.75. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.60% of the company’s stock.

ODP Trading Up 3.3 %

Shares of ODP stock opened at $29.38 on Friday. The ODP Co. has a 1 year low of $23.69 and a 1 year high of $58.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.43. The stock has a market cap of $986.58 million, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.51. The firm has a fifty day moving average price of $33.67 and a 200 day moving average price of $41.78.

ODP (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.76 billion. ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. Equities research analysts predict that The ODP Co. will post 4.29 earnings per share for the current year.

ODP Company Profile

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates through four divisions: ODP Business Solutions, Office Depot, Veyer, and Varis.