Fmr LLC Acquires 24,020 Shares of The ODP Co. (NASDAQ:ODP)

FMR LLC raised its position in The ODP Co. (NASDAQ:ODP - Free Report) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,026 shares of the specialty retailer's stock after purchasing an additional 24,020 shares during the quarter. FMR LLC owned 0.38% of ODP worth $3,392,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ODP. CWM LLC increased its stake in shares of ODP by 81.3% in the second quarter. CWM LLC now owns 941 shares of the specialty retailer's stock valued at $37,000 after buying an additional 422 shares during the period. Wedge Capital Management L L P NC grew its stake in ODP by 18.9% during the second quarter. Wedge Capital Management L L P NC now owns 27,705 shares of the specialty retailer's stock worth $1,088,000 after purchasing an additional 4,411 shares during the period. SummerHaven Investment Management LLC grew its stake in ODP by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer's stock worth $622,000 after purchasing an additional 399 shares during the period. Bank of New York Mellon Corp grew its stake in ODP by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 304,279 shares of the specialty retailer's stock worth $11,949,000 after purchasing an additional 8,618 shares during the period. Finally, Innealta Capital LLC acquired a new stake in ODP during the second quarter worth approximately $68,000. 99.56% of the stock is currently owned by institutional investors.

ODP Stock Down 1.4 %

ODP stock traded down $0.40 during mid-day trading on Friday, reaching $27.57. The stock had a trading volume of 373,943 shares, compared to its average volume of 471,811. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The stock's 50-day simple moving average is $28.40 and its 200-day simple moving average is $32.43. The firm has a market capitalization of $830.35 million, a PE ratio of -30.30, a price-to-earnings-growth ratio of 0.62 and a beta of 1.40.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing analysts' consensus estimates of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the business posted $1.88 EPS. The company's revenue was down 11.3% on a year-over-year basis. On average, sell-side analysts forecast that The ODP Co. will post 3.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ODP. UBS Group decreased their target price on ODP from $30.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th.

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.