Wedge Capital Management L L P NC Grows Position in The ODP Co. (NASDAQ:ODP)

Wedge Capital Management L L P NC grew its stake in shares of The ODP Co. (NASDAQ:ODP) by 66.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,068 shares of the specialty retailer’s stock after buying an additional 18,363 shares during the period. Wedge Capital Management L L P NC owned 0.13% of ODP worth $1,371,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ODP. Vanguard Group Inc. boosted its holdings in shares of ODP by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock worth $211,273,000 after purchasing an additional 16,584 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of ODP during the first quarter worth $1,706,000. Clearline Capital LP boosted its holdings in shares of ODP by 108.7% during the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after purchasing an additional 65,033 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted 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, ProShare Advisors LLC boosted its holdings in shares of ODP by 5.7% during the first quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock worth $343,000 after purchasing an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Insider Buying and Selling at ODP

In related news, Director Wendy Lee Schoppert acquired 3,875 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $25.77 per share, with a total value of $99,858.75. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at $99,858.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ODP shares. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. UBS Group reduced their target price on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

ODP Price Performance

Shares of ODP stock opened at $29.85 on Thursday. The ODP Co. has a twelve month low of $23.69 and a twelve month high of $58.98. The stock has a market capitalization of $1.07 billion, a P/E ratio of 14.42, a PEG ratio of 0.50 and a beta of 1.50. The company has a current ratio of 0.90, a quick ratio of 0.43 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $29.09 and its 200 day moving average price is $38.10.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the business posted $0.99 EPS. ODP’s revenue was down 10.0% compared to the same quarter last year. As a group, research analysts anticipate that The ODP Co. will post 4.29 earnings per share for the current year.

ODP 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.