Nisa Investment Advisors LLC decreased its holdings in shares of The ODP Co. (NASDAQ:ODP – Free Report) by 15.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,959 shares of the specialty retailer’s stock after selling 540 shares during the period. Nisa Investment Advisors LLC’s holdings in ODP were worth $133,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in ODP by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,269,713 shares of the specialty retailer’s stock valued at $148,903,000 after acquiring an additional 123,704 shares during the period. Neuberger Berman Group LLC increased its position in shares of ODP by 7.4% during the third quarter. Neuberger Berman Group LLC now owns 1,269,628 shares of the specialty retailer’s stock worth $44,668,000 after purchasing an additional 87,174 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in ODP by 12.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 898,945 shares of the specialty retailer’s stock valued at $40,938,000 after buying an additional 99,859 shares in the last quarter. Cannell Capital LLC lifted its stake in shares of ODP by 3.4% in the 1st quarter. Cannell Capital LLC now owns 683,827 shares of the specialty retailer’s stock valued at $31,340,000 after purchasing an additional 22,693 shares during the last quarter. Finally, Norges Bank acquired a new position in ODP during the 4th quarter worth about $28,647,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.
Insider Buying and Selling
In other ODP news, CEO Gerry P. Smith sold 11,830 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.04, for a total transaction of $591,973.20. Following the completion of the transaction, the chief executive officer now owns 922,743 shares of the company’s stock, valued at $46,174,059.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ODP news, EVP John Gannfors sold 36,965 shares of the company’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $45.17, for a total transaction of $1,669,709.05. Following the completion of the sale, the executive vice president now directly owns 66,767 shares in the company, valued at $3,015,865.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gerry P. Smith sold 11,830 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $50.04, for a total transaction of $591,973.20. Following the completion of the transaction, the chief executive officer now owns 922,743 shares in the company, valued at approximately $46,174,059.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,911 shares of company stock valued at $3,517,770. 3.10% of the stock is owned by insiders.
ODP Stock Down 2.1 %
ODP opened at $48.93 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.98 and a quick ratio of 0.55. The business has a 50 day simple moving average of $45.54 and a 200-day simple moving average of $46.10. The stock has a market capitalization of $1.89 billion, a P/E ratio of 12.36 and a beta of 1.82. The ODP Co. has a 12 month low of $34.55 and a 12 month high of $53.59.
ODP (NASDAQ:ODP – Get Free Report) last posted its quarterly earnings results on Wednesday, May 10th. The specialty retailer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.34 by $0.44. The business had revenue of $2.11 billion during the quarter. ODP had a return on equity of 16.67% and a net margin of 2.17%. During the same period in the prior year, the business earned $1.27 earnings per share. On average, equities analysts anticipate that The ODP Co. will post 4.99 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ODP. StockNews.com raised ODP from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 7th. B. Riley began coverage on ODP in a research note on Friday, June 23rd. They set a “buy” rating and a $60.00 price target on the stock.
Read Our Latest Stock Analysis on 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.
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