The ODP Co. (NASDAQ:ODP) Shares Sold by Duality Advisers LP

Duality Advisers LP reduced its stake in shares of The ODP Co. (NASDAQ:ODP) by 20.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,090 shares of the specialty retailer’s stock after selling 2,334 shares during the period. Duality Advisers LP’s holdings in ODP were worth $512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. raised 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 worth $83,419,000 after purchasing an additional 493,233 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of ODP during the third quarter worth $3,396,000. CX Institutional purchased a new position in shares of ODP during the third quarter worth $3,212,000. Allspring Global Investments Holdings LLC raised its holdings in shares of ODP by 169.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 89,269 shares of the specialty retailer’s stock worth $5,026,000 after purchasing an additional 56,080 shares during the last quarter. Finally, American Century Companies Inc. raised 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 worth $24,212,000 after purchasing an additional 54,836 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $55.00, for a total transaction of $1,375,000.00. Following the completion of the transaction, 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 can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TheStreet cut shares of ODP from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

ODP Trading Up 0.4 %

Shares of ODP stock opened at $51.43 on Friday. The firm has a 50-day simple moving average of $51.86 and a two-hundred day simple moving average of $50.28. The company has a market cap of $1.88 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.62. The ODP Co. has a fifty-two week low of $39.36 and a fifty-two week high of $58.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.54 and a current ratio of 0.99.

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

ODP announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 48.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are 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.