Swiss National Bank Lowers Holdings in The ODP Corporation $ODP

Swiss National Bank trimmed its holdings in The ODP Corporation (NASDAQ:ODP) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,089 shares of the specialty retailer’s stock after selling 900 shares during the quarter. Swiss National Bank owned 0.22% of ODP worth $933,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ODP. Atlas FRM LLC purchased a new stake in ODP in the fourth quarter valued at $17,856,000. D. E. Shaw & Co. Inc. boosted its stake in shares of ODP by 105.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer’s stock worth $17,921,000 after acquiring an additional 404,041 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of ODP by 7,849.9% during the 1st quarter. Federated Hermes Inc. now owns 319,427 shares of the specialty retailer’s stock worth $4,577,000 after acquiring an additional 315,409 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of ODP during the 4th quarter worth about $7,149,000. Finally, Findell Capital Management LLC purchased a new stake in shares of ODP during the 4th quarter worth about $5,571,000. 99.56% of the stock is owned by hedge funds and other institutional investors.

ODP Stock Down 2.4%

ODP opened at $20.15 on Wednesday. The ODP Corporation has a twelve month low of $11.85 and a twelve month high of $32.21. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $18.71 and a 200 day moving average price of $16.83. The company has a market cap of $606.19 million, a PE ratio of 30.53, a price-to-earnings-growth ratio of 0.51 and a beta of 1.38.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. ODP had a net margin of 0.39% and a return on equity of 11.22%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. Sell-side analysts expect that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ODP. UBS Group increased their target price on shares of ODP from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Wall Street Zen lowered shares of ODP from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.00.

ODP Company 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.