BlackRock Inc. Trims Stake in The ODP Co. (NASDAQ:ODP)

BlackRock Inc. cut its holdings in The ODP Co. (NASDAQ:ODP – Get Rating) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,918,136 shares of the specialty retailer’s stock after selling 215,246 shares during the period. BlackRock Inc. owned 0.15% of ODP worth $243,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ODP. Dimensional Fund Advisors LP increased its holdings in ODP by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,146,009 shares of the specialty retailer’s stock worth $110,583,000 after acquiring an additional 45,251 shares in the last quarter. LSV Asset Management raised its position in shares of ODP by 4.6% during the 3rd quarter. LSV Asset Management now owns 1,987,690 shares of the specialty retailer’s stock valued at $69,867,000 after purchasing an additional 87,713 shares during the period. Greenlight Capital Inc. lifted its stake in shares of ODP by 20.5% during the 2nd quarter. Greenlight Capital Inc. now owns 1,692,760 shares of the specialty retailer’s stock valued at $51,189,000 after buying an additional 287,670 shares in the last quarter. Kite Lake Capital Management UK LLP boosted its holdings in ODP by 2.1% in the 2nd quarter. Kite Lake Capital Management UK LLP now owns 1,035,501 shares of the specialty retailer’s stock worth $31,314,000 after buying an additional 21,000 shares during the period. Finally, Cannell Capital LLC increased its stake in ODP by 3.4% in the 1st quarter. Cannell Capital LLC now owns 683,827 shares of the specialty retailer’s stock worth $31,340,000 after buying an additional 22,693 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

ODP Price Performance

Shares of ODP stock opened at $46.41 on Tuesday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 13.90 and a beta of 1.83. The company has a quick ratio of 0.58, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $49.86 and its 200-day simple moving average is $44.02. The ODP Co. has a 52 week low of $28.85 and a 52 week high of $53.59.

ODP (NASDAQ:ODP – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The specialty retailer reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. ODP had a return on equity of 14.92% and a net margin of 1.96%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the firm earned $0.71 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that The ODP Co. will post 4.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ODP news, EVP Kevin Moffitt sold 23,488 shares of ODP stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $50.74, for a total value of $1,191,781.12. Following the sale, the executive vice president now directly owns 50,459 shares in the company, valued at approximately $2,560,289.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

About ODP

(Get Rating)

The ODP Corp. is a holding company, which engages in the provision of business services and supplies, products, and digital workplace technology solutions. It operates through the following divisions: ODP Business Solutions, Office Depot, Veyer, and Varis. The ODP Business Solutions division provides solutions to small, medium and enterprise level companies, including those in the public and education sectors.