The ODP Co. (NASDAQ:ODP) Shares Bought by Truist Financial Corp

Truist Financial Corp grew its stake in The ODP Co. (NASDAQ:ODPFree Report) by 6.2% in the fourth quarter, Holdings Channel reports. The fund owned 11,423 shares of the specialty retailer’s stock after purchasing an additional 665 shares during the period. Truist Financial Corp’s holdings in ODP were worth $643,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in ODP by 49.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,481,692 shares of the specialty retailer’s stock worth $83,419,000 after acquiring an additional 493,233 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in ODP during the third quarter worth about $3,396,000. Allspring Global Investments Holdings LLC increased its position in shares of ODP by 169.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,269 shares of the specialty retailer’s stock valued at $5,026,000 after acquiring an additional 56,080 shares during the last quarter. American Century Companies Inc. increased its position in shares of ODP by 11.7% during the third quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer’s stock valued at $24,212,000 after acquiring an additional 54,836 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of ODP by 93.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 50,475 shares of the specialty retailer’s stock worth $2,329,000 after acquiring an additional 24,318 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. TheStreet cut ODP from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.00.

Get Our Latest Stock Report on ODP

ODP Trading Down 1.2 %

Shares of ODP stock opened at $40.72 on Thursday. The ODP Co. has a fifty-two week low of $39.36 and a fifty-two week high of $58.98. The company has a 50 day moving average price of $50.13 and a 200 day moving average price of $50.62. The stock has a market capitalization of $1.46 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 0.47 and a beta of 1.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.49 and a current ratio of 0.94.

ODP (NASDAQ:ODPGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $1.05 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.59). The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.96 billion. ODP had a return on equity of 16.67% and a net margin of 1.08%. The business’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. Equities research analysts predict that The ODP Co. will post 6.4 EPS for the current fiscal year.

ODP declared that its Board of Directors has approved a share repurchase program on Wednesday, February 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the specialty retailer to buy up to 48.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Diego Anthony Scaglione sold 25,000 shares of ODP stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00. Following the completion of the transaction, the chief financial officer now owns 96,104 shares in the company, valued at approximately $5,285,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.60% of the stock is owned by company insiders.

About ODP

(Free Report)

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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Institutional Ownership by Quarter for ODP (NASDAQ:ODP)

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