Brandywine Global Investment Management LLC Buys 26,758 Shares of The ODP Co. (NASDAQ:ODP)

Brandywine Global Investment Management LLC increased its stake in shares of The ODP Co. (NASDAQ:ODP) by 43.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,889 shares of the specialty retailer’s stock after buying an additional 26,758 shares during the quarter. Brandywine Global Investment Management LLC owned 0.23% of ODP worth $3,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers boosted its stake in ODP by 3.5% in the first quarter. Rhumbline Advisers now owns 138,112 shares of the specialty retailer’s stock worth $6,212,000 after purchasing an additional 4,613 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in ODP by 46.5% in the first quarter. Y Intercept Hong Kong Ltd now owns 12,905 shares of the specialty retailer’s stock worth $580,000 after purchasing an additional 4,097 shares in the last quarter. Neo Ivy Capital Management acquired a new position in ODP in the fourth quarter worth $860,000. Cambria Investment Management L.P. boosted its stake in ODP by 2.3% in the first quarter. Cambria Investment Management L.P. now owns 170,845 shares of the specialty retailer’s stock worth $7,685,000 after purchasing an additional 3,913 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in ODP in the fourth quarter worth $230,000. Institutional investors own 99.56% of the company’s stock.

ODP Trading Down 2.8 %

NASDAQ ODP opened at $47.13 on Friday. The stock has a 50-day simple moving average of $48.54 and a 200 day simple moving average of $45.66. The company has a market capitalization of $1.79 billion, a PE ratio of 10.99 and a beta of 1.78. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 0.15. The ODP Co. has a 12 month low of $34.55 and a 12 month high of $53.59.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, August 9th. The specialty retailer reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. ODP had a return on equity of 17.82% and a net margin of 2.29%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. Research analysts forecast that The ODP Co. will post 5.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Noble Financial assumed coverage on ODP in a research report on Wednesday, August 23rd. They set an “outperform” rating and a $65.00 target price for the company. B. Riley boosted their target price on ODP from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, StockNews.com downgraded ODP from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 16th.

Insider Buying and Selling at ODP

In other ODP news, EVP Kevin Moffitt sold 652 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $50.07, for a total value of $32,645.64. Following the completion of the transaction, the executive vice president now directly owns 71,487 shares of the company’s stock, valued at $3,579,354.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ODP news, EVP Kevin Moffitt sold 652 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $50.07, for a total value of $32,645.64. Following the completion of the transaction, the executive vice president now directly owns 71,487 shares of the company’s stock, valued at $3,579,354.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Diego Anthony Scaglione sold 10,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $48.15, for a total value of $481,500.00. Following the transaction, the chief financial officer now directly owns 113,788 shares of the company’s stock, valued at $5,478,892.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,579 shares of company stock valued at $5,920,997. Company insiders own 3.10% of the company’s stock.

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.