State Street Corp Has $45.90 Million Stake in The ODP Co. (NASDAQ:ODP)

State Street Corp raised its holdings in The ODP Co. (NASDAQ:ODP) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,542,725 shares of the specialty retailer’s stock after buying an additional 74,015 shares during the period. State Street Corp owned 5.12% of ODP worth $45,896,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODP. CWM LLC raised its stake in shares of ODP by 81.3% during the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 422 shares in the last quarter. Quarry LP raised its position in ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 688 shares in the last quarter. KBC Group NV raised its position in ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 868 shares in the last quarter. Innealta Capital LLC bought a new position in shares of ODP in the 2nd quarter valued at about $68,000. Finally, SG Americas Securities LLC bought a new position in shares of ODP in the 3rd quarter valued at about $104,000. 99.56% of the stock is owned by institutional investors.

ODP Price Performance

NASDAQ:ODP opened at $24.32 on Friday. The firm’s fifty day moving average price is $28.04 and its two-hundred day moving average price is $32.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47. The company has a market cap of $732.47 million, a P/E ratio of -26.73, a P/E/G ratio of 0.60 and a beta of 1.40. The ODP Co. has a one year low of $23.69 and a one year high of $58.98.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 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 company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company posted $1.88 EPS. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. Equities analysts expect that The ODP Co. will post 3.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ODP shares. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group cut their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th.

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.