Bank of Montreal Can Lowers Position in The ODP Co. (NASDAQ:ODP)

Bank of Montreal Can decreased its position in shares of The ODP Co. (NASDAQ:ODP) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,499 shares of the specialty retailer’s stock after selling 412 shares during the period. Bank of Montreal Can owned about 0.31% of ODP worth $2,775,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its position in ODP by 81.3% in the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 422 shares in the last quarter. Quarry LP grew its stake in ODP by 170.3% during the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after buying an additional 688 shares during the last quarter. KBC Group NV grew its stake in shares of ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 868 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of ODP in the 2nd quarter valued at approximately $68,000. Finally, Gladius Capital Management LP grew its stake in shares of ODP by 227.8% in the 2nd quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after purchasing an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Trading Up 5.7 %

Shares of NASDAQ ODP opened at $26.69 on Thursday. The stock’s 50 day moving average price is $28.76 and its two-hundred day moving average price is $33.07. The ODP Co. has a 52-week low of $23.69 and a 52-week high of $58.98. The stock has a market capitalization of $803.90 million, a P/E ratio of -27.74, a PEG ratio of 0.54 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.89). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. On average, analysts anticipate that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ODP. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group reduced their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

About ODP

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.