Principal Financial Group Inc. Grows Position in The ODP Corporation (NASDAQ:ODP)

Principal Financial Group Inc. boosted its stake in shares of The ODP Corporation (NASDAQ:ODP) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,923 shares of the specialty retailer’s stock after purchasing an additional 3,735 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of ODP worth $2,148,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ODP. New York State Teachers Retirement System boosted its holdings in ODP by 5.7% during the first quarter. New York State Teachers Retirement System now owns 45,112 shares of the specialty retailer’s stock worth $646,000 after buying an additional 2,446 shares in the last quarter. SG Americas Securities LLC purchased a new position in ODP during the first quarter valued at $293,000. GAMMA Investing LLC lifted its holdings in ODP by 169.0% during the first quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer’s stock valued at $150,000 after purchasing an additional 6,557 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in ODP by 7.8% during the first quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer’s stock valued at $218,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in ODP by 29.9% during the first quarter. Harbor Capital Advisors Inc. now owns 107,515 shares of the specialty retailer’s stock valued at $1,541,000 after purchasing an additional 24,731 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

ODP Price Performance

Shares of ODP opened at $17.42 on Friday. The ODP Corporation has a 1-year low of $11.85 and a 1-year high of $43.31. The stock has a market cap of $523.99 million, a PE ratio of -12.53, a P/E/G ratio of 0.43 and a beta of 1.34. The firm has a 50-day simple moving average of $17.71 and a two-hundred day simple moving average of $17.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.45.

ODP (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.41. ODP had a negative net margin of 0.69% and a positive return on equity of 11.50%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, analysts forecast that The ODP Corporation will post 3.26 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of ODP from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd.

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.