Royce & Associates LP Lowers Stock Position in The ODP Co. (NASDAQ:ODP)

Royce & Associates LP lowered its stake in The ODP Co. (NASDAQ:ODP - Free Report) by 24.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 280,875 shares of the specialty retailer's stock after selling 92,323 shares during the quarter. Royce & Associates LP owned approximately 0.84% of ODP worth $8,356,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. KBC Group NV boosted its holdings in shares of ODP by 88.9% during the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer's stock valued at $55,000 after acquiring an additional 868 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of ODP by 23.4% in the third quarter. Victory Capital Management Inc. now owns 63,562 shares of the specialty retailer's stock valued at $1,891,000 after buying an additional 12,061 shares during the period. Principal Financial Group Inc. raised its holdings in ODP by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer's stock valued at $4,713,000 after buying an additional 459 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in ODP by 124.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 81,544 shares of the specialty retailer's stock worth $2,426,000 after acquiring an additional 45,155 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in ODP by 2.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer's stock valued at $569,000 after acquiring an additional 394 shares during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. StockNews.com upgraded ODP from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. UBS Group dropped their price objective on ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th.

ODP Stock Up 3.5 %

NASDAQ:ODP traded up $0.87 on Monday, hitting $26.05. The stock had a trading volume of 491,575 shares, compared to its average volume of 467,900. The company has a market cap of $784.63 million, a PE ratio of -27.67, a P/E/G ratio of 0.55 and a beta of 1.48. The business's fifty day moving average is $29.47 and its 200 day moving average is $34.66. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The ODP Co. has a 52 week low of $23.69 and a 52 week high of $58.98.

ODP (NASDAQ:ODP - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal year.

ODP Company 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.