Pacer Advisors Inc. Acquires New Position in The ODP Corporation $ODP

Pacer Advisors Inc. bought a new position in The ODP Corporation (NASDAQ:ODP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 205,080 shares of the specialty retailer’s stock, valued at approximately $5,711,000. Pacer Advisors Inc. owned approximately 0.68% of ODP as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of ODP during the first quarter worth $1,369,000. AlphaQuest LLC acquired a new position in ODP in the 1st quarter worth about $41,000. Walleye Capital LLC raised its stake in shares of ODP by 83.2% during the 1st quarter. Walleye Capital LLC now owns 20,389 shares of the specialty retailer’s stock worth $292,000 after purchasing an additional 9,262 shares in the last quarter. State of Wyoming raised its stake in shares of ODP by 232.5% during the 1st quarter. State of Wyoming now owns 5,859 shares of the specialty retailer’s stock worth $84,000 after purchasing an additional 4,097 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of ODP by 44.4% during the 1st quarter. Vident Advisory LLC now owns 30,191 shares of the specialty retailer’s stock valued at $433,000 after buying an additional 9,276 shares during the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

ODP Trading Up 0.0%

ODP stock opened at $28.00 on Tuesday. The business has a 50 day moving average price of $27.91 and a two-hundred day moving average price of $23.55. The stock has a market cap of $843.30 million, a price-to-earnings ratio of -80.00, a price-to-earnings-growth ratio of 0.62 and a beta of 1.15. The ODP Corporation has a 12 month low of $11.85 and a 12 month high of $28.83. The company has a quick ratio of 0.45, a current ratio of 0.91 and a debt-to-equity ratio of 0.17.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.32. ODP had a negative net margin of 0.14% and a positive return on equity of 12.84%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm’s revenue was down 8.7% on a year-over-year basis. As a group, equities analysts forecast that The ODP Corporation will post 3.26 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ODP. Noble Financial downgraded ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. UBS Group increased their price target on shares of ODP from $19.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ODP in a report on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $28.00.

About ODP

Office Depot, Inc (NASDAQ: ODP) is a leading provider of office products, services and solutions designed to help individuals and businesses improve productivity and efficiency. Headquartered in Boca Raton, Florida, Office Depot operates a network of retail stores under the Office Depot and OfficeMax brands alongside a comprehensive e-commerce platform. The company caters to a diverse customer base that includes home offices, small- and medium-sized businesses, large enterprises, educational institutions and government agencies.

Through its retail and online channels, Office Depot offers a broad portfolio of office essentials such as paper, writing instruments, filing supplies and ink and toner, as well as technology products including computers, tablets, networking equipment and related accessories.