TD Asset Management Inc Sells 12,900 Shares of The ODP Co. (NASDAQ:ODP)

TD Asset Management Inc reduced its stake in shares of The ODP Co. (NASDAQ:ODP) by 60.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,400 shares of the specialty retailer’s stock after selling 12,900 shares during the period. TD Asset Management Inc’s holdings in ODP were worth $330,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Rhumbline Advisers raised its position in ODP by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 109,855 shares of the specialty retailer’s stock worth $4,314,000 after purchasing an additional 1,000 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of ODP in the 2nd quarter worth about $164,000. Innealta Capital LLC bought a new position in shares of ODP in the 2nd quarter worth about $68,000. Bank of New York Mellon Corp raised its position in shares of ODP by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 304,279 shares of the specialty retailer’s stock worth $11,949,000 after acquiring an additional 8,618 shares in the last quarter. Finally, SummerHaven Investment Management LLC raised its position in shares of ODP by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer’s stock worth $622,000 after acquiring an additional 399 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ODP shares. StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. UBS Group lowered their price objective on ODP from $53.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

ODP Stock Performance

Shares of ODP stock opened at $29.38 on Monday. The ODP Co. has a one year low of $23.69 and a one year high of $58.98. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.47 and a beta of 1.51. The business has a 50-day simple moving average of $33.67 and a 200 day simple moving average of $41.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.43.

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

Insider Activity at ODP

In other news, Director Wendy Lee Schoppert bought 3,875 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $25.77 per share, with a total value of $99,858.75. Following the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $99,858.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by corporate insiders.

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.