Creative Planning Takes Position in The ODP Co. (NASDAQ:ODP)

Creative Planning acquired a new stake in shares of The ODP Co. (NASDAQ:ODP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,207 shares of the specialty retailer’s stock, valued at approximately $690,000. Creative Planning owned about 0.06% of ODP as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its position in ODP by 66.3% in the third quarter. Wedge Capital Management L L P NC now owns 46,068 shares of the specialty retailer’s stock worth $1,371,000 after buying an additional 18,363 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in ODP in the third quarter worth about $310,000. SG Americas Securities LLC purchased a new stake in ODP in the third quarter worth about $104,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ODP in the second quarter worth about $1,151,000. Finally, Sanctuary Advisors LLC purchased a new stake in ODP in the second quarter worth about $357,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ODP. UBS Group cut their target price on ODP from $53.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

ODP Stock Performance

NASDAQ:ODP opened at $31.49 on Monday. The stock has a 50-day moving average price of $29.92 and a 200 day moving average price of $36.42. The ODP Co. has a 12-month low of $23.69 and a 12-month high of $58.98. The stock has a market capitalization of $1.06 billion, a P/E ratio of -37.05, a P/E/G ratio of 0.52 and a beta of 1.48. The company has a current ratio of 0.90, a quick ratio of 0.43 and a debt-to-equity ratio of 0.19.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $0.99 earnings per share. ODP’s quarterly revenue was down 10.0% on a year-over-year basis. Equities research analysts forecast that The ODP Co. will post 4.29 EPS for the current fiscal year.

Insider Activity

In other news, Director Wendy Lee Schoppert acquired 3,875 shares of ODP stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $25.77 per share, for a total transaction of $99,858.75. Following the acquisition, the director now directly owns 3,875 shares of the company’s stock, valued at $99,858.75. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.60% 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.