JPMorgan Chase & Co. Lowers Holdings in The ODP Co. (NASDAQ:ODP)

JPMorgan Chase & Co. trimmed its holdings in shares of The ODP Co. (NASDAQ:ODP - Free Report) by 65.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,797 shares of the specialty retailer's stock after selling 111,874 shares during the period. JPMorgan Chase & Co. owned about 0.19% of ODP worth $1,719,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ODP. Principal Financial Group Inc. grew its holdings in shares of ODP by 0.3% in the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer's stock worth $4,713,000 after purchasing an additional 459 shares during the last quarter. Geode Capital Management LLC grew its holdings in ODP by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer's stock worth $24,219,000 after acquiring an additional 3,041 shares during the last quarter. Barclays PLC increased its position in shares of ODP by 114.3% in the third quarter. Barclays PLC now owns 99,671 shares of the specialty retailer's stock valued at $2,965,000 after acquiring an additional 53,160 shares during the period. Jane Street Group LLC increased its position in shares of ODP by 31.1% in the third quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer's stock valued at $5,717,000 after acquiring an additional 45,627 shares during the period. Finally, Weiss Asset Management LP raised its stake in shares of ODP by 2,219.3% during the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer's stock valued at $16,992,000 after acquiring an additional 546,525 shares during the last quarter. 99.56% of the stock is owned by institutional investors.

ODP Trading Down 1.6 %

Shares of NASDAQ ODP traded down $0.37 during midday trading on Thursday, hitting $22.50. 395,017 shares of the company traded hands, compared to its average volume of 386,944. 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 12-month low of $21.52 and a 12-month high of $58.13. The stock has a 50-day moving average price of $24.92 and a 200 day moving average price of $29.44. The firm has a market cap of $677.70 million, a P/E ratio of -24.73, a P/E/G ratio of 0.40 and a beta of 1.40.

ODP (NASDAQ:ODP - Get Free Report) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company posted $1.88 EPS. The firm's revenue was down 11.3% on a year-over-year basis. As a group, analysts expect that The ODP Co. will post 3.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ODP shares. UBS Group reduced their price target on ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th.

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.