Victory Capital Management Inc. Buys 28,210 Shares of The ODP Co. (NASDAQ:ODP)

Victory Capital Management Inc. grew its stake in shares of The ODP Co. (NASDAQ:ODP) by 121.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,501 shares of the specialty retailer’s stock after acquiring an additional 28,210 shares during the period. Victory Capital Management Inc. owned about 0.14% of ODP worth $2,022,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in ODP during the 4th quarter valued at $21,070,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of ODP by 15.7% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after acquiring an additional 164,020 shares in the last quarter. Pennant Select LLC purchased a new stake in ODP in the fourth quarter worth about $7,826,000. Greenlight Capital Inc. grew its holdings in ODP by 8.3% during the 4th quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock worth $98,418,000 after acquiring an additional 133,750 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in ODP by 27.9% during the 4th quarter. Allianz Asset Management GmbH now owns 240,541 shares of the specialty retailer’s stock valued at $13,546,000 after purchasing an additional 52,427 shares during the period. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ODP. StockNews.com cut shares of 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.

Insider Buying and Selling

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

ODP Stock Performance

ODP stock opened at $29.77 on Wednesday. The ODP Co. has a one year low of $23.69 and a one year high of $58.98. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.90. The firm has a 50-day simple moving average of $33.51 and a two-hundred day simple moving average of $41.42.

ODP (NASDAQ:ODP) last posted 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). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The company’s revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. On average, equities analysts forecast that The ODP Co. will post 4.29 EPS for the current fiscal 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.