Franklin Resources Inc. Reduces Stock Holdings in The ODP Co. (NASDAQ:ODP)

Franklin Resources Inc. reduced its stake in shares of The ODP Co. (NASDAQ:ODP) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,296 shares of the specialty retailer’s stock after selling 5,663 shares during the quarter. Franklin Resources Inc.’s holdings in ODP were worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in shares of ODP by 2.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock valued at $569,000 after purchasing an additional 394 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of ODP by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock valued at $4,713,000 after buying an additional 459 shares in the last quarter. Quarry LP grew its position in shares of ODP by 170.3% in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ODP by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer’s stock worth $2,458,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV lifted its position in ODP by 88.9% during the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 868 shares during the period. 99.56% of the stock is currently owned by institutional investors.

ODP Stock Down 0.7 %

Shares of ODP stock opened at $24.06 on Thursday. The company has a 50-day simple moving average of $27.57 and a two-hundred day simple moving average of $31.67. The stock has a market capitalization of $724.64 million, a PE ratio of -26.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The ODP Co. has a 52-week low of $23.69 and a 52-week high of $58.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). The business had revenue of $1.78 billion during 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 business’s revenue 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 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of 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 research 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.