Centiva Capital LP Invests $288,000 in The ODP Co. (NASDAQ:ODP)

Centiva Capital LP bought a new stake in shares of The ODP Co. (NASDAQ:ODP) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 9,671 shares of the specialty retailer’s stock, valued at approximately $288,000.

A number of other hedge funds have also recently bought and sold shares of the stock. DME Capital Management LP increased its holdings in shares of ODP by 29.9% during the second quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after buying an additional 511,890 shares in the last quarter. American Century Companies Inc. raised its position in ODP by 19.6% in the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after purchasing an additional 136,730 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ODP by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after purchasing an additional 58,062 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of ODP by 106.3% during the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock worth $12,966,000 after purchasing an additional 170,149 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of ODP by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 304,279 shares of the specialty retailer’s stock valued at $11,949,000 after buying an additional 8,618 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ODP. UBS Group dropped their target price on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

ODP Stock Up 1.0 %

ODP stock opened at $28.37 on Wednesday. The business has a 50-day moving average of $28.53 and a 200-day moving average of $32.62. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The stock has a market capitalization of $854.45 million, a P/E ratio of -31.18, a P/E/G ratio of 0.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.

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

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.