The ODP Corporation $ODP Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of The ODP Corporation (NASDAQ:ODP) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 539,473 shares of the specialty retailer’s stock after buying an additional 47,886 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.81% of ODP worth $7,731,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN boosted its position in ODP by 16.2% during the fourth quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer’s stock worth $444,000 after acquiring an additional 2,717 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of ODP by 4.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,601 shares of the specialty retailer’s stock valued at $491,000 after acquiring an additional 994 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of ODP by 38.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock valued at $98,000 after acquiring an additional 1,198 shares during the period. Northern Trust Corp raised its stake in shares of ODP by 13.0% in the 4th quarter. Northern Trust Corp now owns 600,027 shares of the specialty retailer’s stock valued at $13,645,000 after acquiring an additional 69,198 shares during the period. Finally, Atlas FRM LLC purchased a new stake in ODP during the 4th quarter worth approximately $17,856,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Price Performance

Shares of NASDAQ ODP opened at $20.15 on Wednesday. The stock has a market cap of $606.19 million, a price-to-earnings ratio of 30.53, a PEG ratio of 0.51 and a beta of 1.38. The ODP Corporation has a 52 week low of $11.85 and a 52 week high of $32.21. The company’s 50-day moving average price is $18.71 and its 200 day moving average price is $16.83. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) 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 company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, research analysts forecast that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ODP has been the subject of several analyst reports. Wall Street Zen cut shares of ODP from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. UBS Group upped their target price on shares of ODP from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

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.