Geode Capital Management LLC Has $24.22 Million Position in The ODP Co. (NASDAQ:ODP)

Geode Capital Management LLC boosted its holdings in shares of The ODP Co. (NASDAQ:ODP) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 813,895 shares of the specialty retailer’s stock after acquiring an additional 3,041 shares during the period. Geode Capital Management LLC’s holdings in ODP were worth $24,219,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ODP. Bank of New York Mellon Corp raised 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 worth $11,949,000 after purchasing an additional 8,618 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in ODP in the 2nd quarter valued at $164,000. Rhumbline Advisers lifted its stake in ODP by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 109,855 shares of the specialty retailer’s stock valued at $4,314,000 after acquiring an additional 1,000 shares in the last quarter. Victory Capital Management Inc. lifted its stake in ODP by 121.1% during the 2nd quarter. Victory Capital Management Inc. now owns 51,501 shares of the specialty retailer’s stock valued at $2,022,000 after acquiring an additional 28,210 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of ODP by 10.9% in the 2nd quarter. Arizona State Retirement System now owns 10,251 shares of the specialty retailer’s stock worth $403,000 after acquiring an additional 1,006 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

ODP Stock Down 1.5 %

Shares of NASDAQ:ODP opened at $22.92 on Friday. The ODP Co. has a 1 year low of $22.73 and a 1 year high of $58.33. The company has a market capitalization of $690.30 million, a PE ratio of -25.19, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The business has a fifty day moving average price of $27.24 and a two-hundred day moving average price of $31.50. 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 results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share 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%. ODP’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. Analysts forecast that The ODP Co. will post 3.26 earnings per share for the current 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.