Goldman Sachs Group Inc. Reduces Holdings in The ODP Corporation $ODP

Goldman Sachs Group Inc. decreased its holdings in shares of The ODP Corporation (NASDAQ:ODP) by 43.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,224 shares of the specialty retailer’s stock after selling 172,599 shares during the period. Goldman Sachs Group Inc. owned 0.74% of ODP worth $3,170,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of ODP by 1.5% in the 1st quarter. American Century Companies Inc. now owns 1,028,782 shares of the specialty retailer’s stock worth $14,742,000 after acquiring an additional 15,560 shares in the last quarter. Neuberger Berman Group LLC increased its position in ODP by 2.1% during the 1st quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer’s stock valued at $13,358,000 after buying an additional 19,552 shares in the last quarter. Allianz Asset Management GmbH increased its position in ODP by 28.2% during the 1st quarter. Allianz Asset Management GmbH now owns 821,669 shares of the specialty retailer’s stock valued at $11,775,000 after buying an additional 180,758 shares in the last quarter. Invesco Ltd. increased its position in ODP by 25.4% during the 1st quarter. Invesco Ltd. now owns 706,511 shares of the specialty retailer’s stock valued at $10,124,000 after buying an additional 143,291 shares in the last quarter. Finally, Millennium Management LLC increased its position in ODP by 673.7% during the 1st quarter. Millennium Management LLC now owns 698,169 shares of the specialty retailer’s stock valued at $10,005,000 after buying an additional 607,935 shares in the last quarter. Institutional investors own 99.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ODP. Wall Street Zen downgraded ODP from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. UBS Group increased their target price on ODP from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, ODP currently has a consensus rating of “Hold” and an average price target of $19.00.

ODP Stock Down 4.6%

Shares of NASDAQ ODP opened at $20.82 on Friday. The ODP Corporation has a 12-month low of $11.85 and a 12-month high of $32.21. The stock’s fifty day simple moving average is $19.74 and its two-hundred day simple moving average is $17.19. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $626.27 million, a PE ratio of 31.55, a price-to-earnings-growth ratio of 0.54 and a beta of 1.40.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. As a group, analysts expect that The ODP Corporation 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.