Pennant Select LLC Has $2.76 Million Stock Position in The ODP Co. (NASDAQ:ODP)

Pennant Select LLC trimmed its stake in The ODP Co. (NASDAQ:ODP - Free Report) by 33.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,905 shares of the specialty retailer's stock after selling 46,095 shares during the quarter. ODP accounts for 1.9% of Pennant Select LLC's portfolio, making the stock its 10th largest position. Pennant Select LLC owned about 0.31% of ODP worth $2,764,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in ODP by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer's stock valued at $211,273,000 after purchasing an additional 16,584 shares in the last quarter. Clearline Capital LP increased its holdings in ODP by 108.7% in the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer's stock worth $4,904,000 after buying an additional 65,033 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in ODP by 106.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer's stock worth $12,966,000 after buying an additional 170,149 shares during the last quarter. Creative Planning bought a new position in ODP during the third quarter valued at approximately $690,000. Finally, Wedge Capital Management L L P NC lifted its stake in ODP by 66.3% in the third quarter. Wedge Capital Management L L P NC now owns 46,068 shares of the specialty retailer's stock valued at $1,371,000 after acquiring an additional 18,363 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ODP has been the topic of a number of recent research reports. UBS Group cut their price target on shares of ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th. StockNews.com upgraded ODP from a "hold" rating to a "buy" rating in a report on Thursday, November 7th.

ODP Stock Performance

Shares of ODP stock traded down $0.45 on Friday, reaching $25.68. The stock had a trading volume of 471,113 shares, compared to its average volume of 469,328. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The business's 50-day moving average price is $28.99 and its two-hundred day moving average price is $33.51. 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 stock has a market cap of $773.48 million, a P/E ratio of -28.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48.

ODP (NASDAQ:ODP - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm's revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. On average, sell-side analysts forecast that The ODP Co. will post 3.26 EPS 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.