JPMorgan Chase & Co. lessened its holdings in shares of The ODP Co. (NASDAQ:ODP – Free Report) by 65.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,797 shares of the specialty retailer’s stock after selling 111,874 shares during the period. JPMorgan Chase & Co. owned approximately 0.19% of ODP worth $1,719,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ODP. DME Capital Management LP grew its position in ODP by 29.9% during the 2nd quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after purchasing an additional 511,890 shares during the period. State Street Corp grew its position in ODP by 5.0% during the 3rd quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock worth $45,896,000 after purchasing an additional 74,015 shares during the period. Geode Capital Management LLC grew its position in ODP by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock worth $24,219,000 after purchasing an additional 3,041 shares during the period. Weiss Asset Management LP grew its position in ODP by 2,219.3% during the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock worth $16,992,000 after purchasing an additional 546,525 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in ODP by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after purchasing an additional 58,062 shares during the period. Hedge funds and other institutional investors own 99.56% of the company’s stock.
Analysts Set New Price Targets
ODP has been the topic of a number of analyst reports. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group dropped their target price on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.
ODP Trading Down 6.5 %
Shares of ODP stock opened at $22.87 on Thursday. The stock has a market cap of $688.84 million, a P/E ratio of -25.13, a P/E/G ratio of 0.41 and a beta of 1.40. The stock’s 50 day simple moving average is $24.92 and its 200-day simple moving average is $29.44. The ODP Co. has a 1-year low of $21.52 and a 1-year high of $58.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.
ODP (NASDAQ:ODP – Get Free Report) last issued its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Analysts predict that The ODP Co. will post 3.26 EPS for the current fiscal year.
About ODP
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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