Arizona State Retirement System Has $475,000 Stake in The ODP Co. (NASDAQ:ODP)

Arizona State Retirement System decreased its holdings in The ODP Co. (NASDAQ:ODP) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,152 shares of the specialty retailer’s stock after selling 1,795 shares during the period. Arizona State Retirement System’s holdings in ODP were worth $475,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in ODP in the first quarter worth approximately $444,000. Point72 Asset Management L.P. bought a new position in shares of ODP in the second quarter valued at approximately $42,000. Tower Research Capital LLC TRC raised its position in shares of ODP by 875.4% in the first quarter. Tower Research Capital LLC TRC now owns 1,785 shares of the specialty retailer’s stock valued at $80,000 after purchasing an additional 1,602 shares during the period. PNC Financial Services Group Inc. raised its position in shares of ODP by 9.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock valued at $139,000 after purchasing an additional 270 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in shares of ODP in the first quarter valued at approximately $220,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Stock Up 3.3 %

ODP opened at $48.45 on Monday. The ODP Co. has a fifty-two week low of $38.71 and a fifty-two week high of $53.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.98 and a quick ratio of 0.51. The firm’s fifty day moving average price is $46.29 and its two-hundred day moving average price is $45.61. The company has a market capitalization of $1.84 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.64 and a beta of 1.73.

ODP (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. ODP had a net margin of 2.29% and a return on equity of 17.82%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. On average, analysts anticipate that The ODP Co. will post 5.2 EPS for the current year.

Insider Buying and Selling at ODP

In other ODP news, CEO Gerry P. Smith sold 28,016 shares of ODP stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $50.06, for a total transaction of $1,402,480.96. Following the completion of the transaction, the chief executive officer now directly owns 865,897 shares of the company’s stock, valued at $43,346,803.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ODP news, CEO Gerry P. Smith sold 28,016 shares of ODP stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $50.06, for a total transaction of $1,402,480.96. Following the completion of the transaction, the chief executive officer now directly owns 865,897 shares of the company’s stock, valued at $43,346,803.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin Moffitt sold 652 shares of ODP stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $50.07, for a total value of $32,645.64. Following the transaction, the executive vice president now directly owns 71,487 shares of the company’s stock, valued at $3,579,354.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,668 shares of company stock valued at $2,403,227. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of ODP in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Noble Financial assumed coverage on shares of ODP in a research note on Wednesday, August 23rd. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, B. Riley raised their price objective on shares of ODP from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th.

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.