Bank of New York Mellon Corp trimmed its stake in The ODP Co. (NASDAQ:ODP – Free Report) by 19.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,442 shares of the specialty retailer’s stock after selling 81,819 shares during the period. Bank of New York Mellon Corp owned approximately 0.90% of ODP worth $16,314,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of ODP. Norges Bank purchased a new position in shares of ODP in the 4th quarter valued at $28,647,000. Pacer Advisors Inc. purchased a new position in ODP during the 2nd quarter worth $26,728,000. EVR Research LP purchased a new position in ODP during the 1st quarter worth $9,166,000. SCW Capital Management LP purchased a new position in ODP during the 1st quarter worth $7,217,000. Finally, Dimensional Fund Advisors LP grew its position in ODP by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,407,895 shares of the specialty retailer’s stock worth $153,287,000 after purchasing an additional 138,182 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.
ODP Stock Up 4.6 %
ODP stock opened at $46.81 on Tuesday. The ODP Co. has a one year low of $39.36 and a one year high of $53.59. The stock has a market capitalization of $1.75 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.73. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.55 and a current ratio of 1.00. The company has a fifty day moving average of $45.88 and a 200-day moving average of $45.70.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of ODP in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Noble Financial assumed coverage on shares of ODP in a research report on Wednesday, August 23rd. They set an “outperform” rating and a $65.00 price objective on the stock. 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 report on Thursday, August 10th. Finally, UBS Group raised their target price on shares of ODP from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th.
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.
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