Prudential Financial Inc. Purchases 153,019 Shares of The ODP Corporation $ODP

Prudential Financial Inc. raised its position in The ODP Corporation (NASDAQ:ODP) by 486.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 184,487 shares of the specialty retailer’s stock after acquiring an additional 153,019 shares during the period. Prudential Financial Inc. owned approximately 0.61% of ODP worth $3,345,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ODP. LSV Asset Management lifted its holdings in shares of ODP by 1.0% in the 2nd quarter. LSV Asset Management now owns 1,423,757 shares of the specialty retailer’s stock worth $25,813,000 after purchasing an additional 13,729 shares in the last quarter. American Century Companies Inc. increased its stake in ODP by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 1,047,624 shares of the specialty retailer’s stock valued at $18,993,000 after purchasing an additional 18,842 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in ODP by 2.1% during the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer’s stock worth $13,358,000 after buying an additional 19,552 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of ODP by 3.7% in the second quarter. Allianz Asset Management GmbH now owns 851,971 shares of the specialty retailer’s stock valued at $15,446,000 after buying an additional 30,302 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of ODP by 25.4% in the first quarter. Invesco Ltd. now owns 706,511 shares of the specialty retailer’s stock valued at $10,124,000 after buying an additional 143,291 shares in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

ODP Stock Performance

Shares of ODP opened at $27.97 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $842.40 million, a price-to-earnings ratio of 42.38, a PEG ratio of 0.69 and a beta of 1.15. The stock has a 50 day moving average of $27.85 and a 200 day moving average of $22.10. The ODP Corporation has a 12 month low of $11.85 and a 12 month high of $28.83.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.32. ODP had a return on equity of 11.22% and a net margin of 0.39%.The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm earned $1.75 earnings per share. The business’s revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that The ODP Corporation will post 3.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.