American Century Companies Inc. Purchases 18,842 Shares of The ODP Corporation $ODP

American Century Companies Inc. lifted its position in The ODP Corporation (NASDAQ:ODP) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,047,624 shares of the specialty retailer’s stock after purchasing an additional 18,842 shares during the quarter. American Century Companies Inc. owned 3.48% of ODP worth $18,993,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ODP. LSV Asset Management lifted its position in ODP by 1.0% in the 2nd quarter. LSV Asset Management now owns 1,423,757 shares of the specialty retailer’s stock worth $25,813,000 after buying an additional 13,729 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of ODP by 2.1% in the 1st quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer’s stock worth $13,358,000 after acquiring an additional 19,552 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of ODP by 3.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 851,971 shares of the specialty retailer’s stock valued at $15,446,000 after purchasing an additional 30,302 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 purchasing an additional 143,291 shares during the last quarter. Finally, Millennium Management LLC raised its position in ODP by 673.7% in the 1st quarter. Millennium Management LLC now owns 698,169 shares of the specialty retailer’s stock worth $10,005,000 after purchasing an additional 607,935 shares during the period. 99.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ODP. Weiss Ratings restated a “sell (d-)” rating on shares of ODP in a research report on Monday. Noble Financial cut ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. Finally, UBS Group raised their price target on ODP from $19.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ODP presently has an average rating of “Reduce” and a consensus price target of $28.00.

ODP Price Performance

Shares of NASDAQ ODP opened at $27.97 on Wednesday. The ODP Corporation has a 1 year low of $11.85 and a 1 year high of $28.83. The stock has a market capitalization of $842.40 million, a P/E ratio of 42.38, a P/E/G ratio of 0.69 and a beta of 1.15. The company’s 50-day moving average is $27.85 and its 200 day moving average is $22.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.45.

ODP (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 EPS for the quarter, topping the consensus estimate of $0.82 by $0.32. ODP had a net margin of 0.39% and a return on equity of 11.22%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the business posted $1.75 earnings per share. ODP’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, sell-side analysts expect that The ODP Corporation will post 3.26 earnings per share for the current 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.