Federated Hermes Inc. Cuts Holdings in The ODP Co. (NASDAQ:ODP)

Federated Hermes Inc. cut its holdings in The ODP Co. (NASDAQ:ODP) by 60.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,018 shares of the specialty retailer’s stock after selling 6,251 shares during the quarter. Federated Hermes Inc.’s holdings in ODP were worth $91,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in ODP by 380.1% in the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after purchasing an additional 3,071 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of ODP during the 4th quarter worth $150,000. Inceptionr LLC acquired a new stake in ODP in the 4th quarter valued at about $223,000. New York State Common Retirement Fund increased its holdings in ODP by 17.6% during the 4th quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock valued at $258,000 after acquiring an additional 1,700 shares in the last quarter. Finally, Amundi lifted its holdings in shares of ODP by 175.9% in the fourth quarter. Amundi now owns 16,474 shares of the specialty retailer’s stock valued at $368,000 after purchasing an additional 10,504 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research report on Friday.

ODP Trading Up 4.0 %

ODP stock opened at $13.71 on Friday. The stock has a market cap of $408.80 million, a PE ratio of -15.07, a P/E/G ratio of 0.30 and a beta of 1.45. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $15.45 and a 200 day moving average price of $22.40. The ODP Co. has a 52 week low of $11.85 and a 52 week high of $52.69.

ODP (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. Equities research analysts predict that The ODP Co. will post 3.26 earnings per share 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.