Illinois Municipal Retirement Fund Sells 284 Shares of The ODP Co. (NASDAQ:ODP)

Illinois Municipal Retirement Fund cut its position in The ODP Co. (NASDAQ:ODP) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,892 shares of the specialty retailer’s stock after selling 284 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of ODP worth $1,120,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ODP. American Century Companies Inc. increased its holdings in shares of ODP by 11.7% during the third quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer’s stock valued at $24,212,000 after acquiring an additional 54,836 shares in the last quarter. Quantedge Capital Pte Ltd increased its holdings in shares of ODP by 195.5% during the third quarter. Quantedge Capital Pte Ltd now owns 32,500 shares of the specialty retailer’s stock valued at $1,500,000 after acquiring an additional 21,500 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in shares of ODP by 50.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 19,598 shares of the specialty retailer’s stock valued at $1,103,000 after acquiring an additional 6,563 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of ODP by 49.9% during the fourth 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. Finally, Invesco Ltd. increased its holdings in shares of ODP by 3.0% during the third quarter. Invesco Ltd. now owns 487,239 shares of the specialty retailer’s stock valued at $22,486,000 after acquiring an additional 14,040 shares in the last quarter. 99.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was 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 in the company, valued at approximately $5,285,720. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

ODP has been the topic of several recent analyst reports. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. TheStreet lowered ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, ODP currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

ODP Price Performance

Shares of NASDAQ ODP opened at $51.39 on Friday. The business’s 50 day moving average price is $51.75 and its 200 day moving average price is $50.36. The firm has a market cap of $1.88 billion, a P/E ratio of 15.20, a P/E/G ratio of 0.64 and a beta of 1.62. The ODP Co. has a 52 week low of $39.36 and a 52 week high of $58.98. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.15.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.76 by $0.16. ODP had a return on equity of 19.45% and a net margin of 1.77%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The business’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, sell-side analysts expect that The ODP Co. will post 5.71 earnings per share for the current year.

ODP declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 48.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.