Intech Investment Management LLC Increases Position in The ODP Co. (NASDAQ:ODP)

Intech Investment Management LLC increased its holdings in shares of The ODP Co. (NASDAQ:ODP) by 456.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,922 shares of the specialty retailer’s stock after buying an additional 39,313 shares during the quarter. Intech Investment Management LLC owned 0.14% of ODP worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ODP. DME Capital Management LP grew its stake in ODP by 29.9% during the 2nd 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 during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in ODP by 106.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock worth $12,966,000 after buying an additional 170,149 shares during the last quarter. American Century Companies Inc. grew its stake in ODP by 19.6% during the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock worth $32,707,000 after buying an additional 136,730 shares during the last quarter. Caxton Associates LP purchased a new position in ODP during the 2nd quarter worth $2,788,000. Finally, Clearline Capital LP grew its stake in ODP by 108.7% during the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after buying an additional 65,033 shares during the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ODP Stock Down 1.2 %

ODP stock opened at $26.94 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The business’s 50-day simple moving average is $29.21 and its two-hundred day simple moving average is $33.72. The company has a market cap of $811.38 million, a PE ratio of -29.60, a PEG ratio of 0.60 and a beta of 1.48. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98.

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 firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. Equities analysts anticipate that The ODP Co. will post 3.26 EPS 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.