Neuberger Berman Group LLC Reduces Holdings in The ODP Co. (NASDAQ:ODP)

Neuberger Berman Group LLC lowered its position in shares of The ODP Co. (NASDAQ:ODPGet Rating) by 1.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,175,496 shares of the specialty retailer’s stock after selling 17,939 shares during the period. Neuberger Berman Group LLC owned approximately 2.39% of ODP worth $53,912,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ODP. Greenlight Capital Inc. increased its stake in shares of ODP by 25.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,437,590 shares of the specialty retailer’s stock worth $56,469,000 after buying an additional 290,658 shares during the last quarter. Kite Lake Capital Management UK LLP increased its stake in shares of ODP by 20.9% in the fourth quarter. Kite Lake Capital Management UK LLP now owns 894,501 shares of the specialty retailer’s stock worth $35,136,000 after buying an additional 154,704 shares during the last quarter. Fir Tree Capital Management LP increased its stake in shares of ODP by 474.8% in the first quarter. Fir Tree Capital Management LP now owns 723,899 shares of the specialty retailer’s stock worth $33,176,000 after buying an additional 597,964 shares during the last quarter. Credit Suisse AG increased its stake in shares of ODP by 1,349.0% in the fourth quarter. Credit Suisse AG now owns 701,554 shares of the specialty retailer’s stock worth $27,558,000 after buying an additional 653,137 shares during the last quarter. Finally, Cannell Capital LLC increased its stake in shares of ODP by 3.4% in the first quarter. Cannell Capital LLC now owns 683,827 shares of the specialty retailer’s stock worth $31,340,000 after buying an additional 22,693 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group dropped their price target on shares of ODP from $50.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 4th. StockNews.com upgraded shares of ODP from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 31st.

Insider Activity

In other news, EVP Zoe Maloney sold 6,800 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $36.86, for a total transaction of $250,648.00. Following the completion of the transaction, the executive vice president now owns 21,932 shares of the company’s stock, valued at $808,413.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

ODP Stock Down 0.4 %

ODP stock opened at $36.37 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.06 and a quick ratio of 0.55. The ODP Co. has a 1-year low of $28.85 and a 1-year high of $48.00. The firm has a fifty day moving average price of $35.94 and a two-hundred day moving average price of $39.10. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -20.43 and a beta of 1.85.

ODP (NASDAQ:ODPGet Rating) last released its earnings results on Wednesday, August 3rd. The specialty retailer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.33. ODP had a negative net margin of 1.08% and a positive return on equity of 14.99%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. Research analysts predict that The ODP Co. will post 4.3 EPS for the current year.

ODP Company Profile

(Get Rating)

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, the U.S.

Recommended Stories

Institutional Ownership by Quarter for ODP (NASDAQ:ODP)

Receive News & Ratings for ODP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ODP and related companies with MarketBeat.com's FREE daily email newsletter.