LSV Asset Management Sells 51,013 Shares of The ODP Co. (NASDAQ:ODP)

LSV Asset Management cut its position in The ODP Co. (NASDAQ:ODP) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,815,080 shares of the specialty retailer’s stock after selling 51,013 shares during the quarter. LSV Asset Management owned about 4.86% of ODP worth $102,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODP. Pacer Advisors Inc. raised its holdings in ODP by 49.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,481,692 shares of the specialty retailer’s stock valued at $83,419,000 after acquiring an additional 493,233 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of ODP during the 3rd quarter worth $3,396,000. Allspring Global Investments Holdings LLC raised its holdings in shares of ODP by 169.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 89,269 shares of the specialty retailer’s stock worth $5,026,000 after buying an additional 56,080 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ODP by 11.7% during the 3rd quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer’s stock worth $24,212,000 after buying an additional 54,836 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in ODP by 93.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 50,475 shares of the specialty retailer’s stock worth $2,329,000 after purchasing an additional 24,318 shares in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ODP. TheStreet downgraded shares of ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.00.

ODP Trading Up 1.6 %

ODP traded up $0.83 during trading on Friday, hitting $51.74. The company’s stock had a trading volume of 250,177 shares, compared to its average volume of 292,388. The stock’s fifty day moving average price is $51.62 and its 200-day moving average price is $50.55. The firm has a market capitalization of $1.89 billion, a P/E ratio of 15.31, a PEG ratio of 0.64 and a beta of 1.68. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.15. The ODP Co. has a twelve month low of $39.36 and a twelve month high of $58.98.

ODP (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.16. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.84 billion. ODP had a net margin of 1.77% and a return on equity of 19.45%. The business’s quarterly revenue was down 14.2% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. Analysts anticipate that The ODP Co. will post 5.64 EPS for the current year.

ODP declared that its Board of Directors has approved a stock buyback program on Wednesday, February 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to reacquire up to 48.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at ODP

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of ODP stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $55.00, for a total value of $1,375,000.00. Following the sale, the chief financial officer now owns 96,104 shares of the company’s stock, valued at $5,285,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is owned by insiders.

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.