The ODP Co. (NASDAQ:ODP) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in The ODP Co. (NASDAQ:ODP) by 14.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 91,433 shares of the specialty retailer’s stock after selling 15,953 shares during the period. Millennium Management LLC’s holdings in ODP were worth $3,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ODP. DME Capital Management LP raised its holdings in shares of ODP by 29.9% in the second quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after acquiring an additional 511,890 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in ODP by 106.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock valued at $12,966,000 after purchasing an additional 170,149 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of ODP by 19.6% during the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock worth $32,707,000 after purchasing an additional 136,730 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of ODP during the 2nd quarter valued at $2,788,000. Finally, AREX Capital Management LP increased its holdings in shares of ODP by 26.2% during the 2nd quarter. AREX Capital Management LP now owns 240,500 shares of the specialty retailer’s stock worth $9,444,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Insider Transactions at ODP

In other ODP news, Director Wendy Lee Schoppert acquired 3,875 shares of the stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $25.77 per share, for a total transaction of $99,858.75. Following the purchase, the director now directly owns 3,875 shares in the company, valued at $99,858.75. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ODP shares. UBS Group reduced their price objective on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded shares of ODP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

ODP Stock Down 0.0 %

NASDAQ ODP opened at $30.05 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.90 and a debt-to-equity ratio of 0.19. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The business has a 50 day moving average price of $29.29 and a two-hundred day moving average price of $38.48. The stock has a market cap of $1.08 billion, a PE ratio of 14.52, a P/E/G ratio of 0.50 and a beta of 1.50.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share 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 for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the business posted $0.99 earnings per share. ODP’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, sell-side analysts predict 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.