American Century Companies Inc. Grows Stock Holdings in The ODP Co. (NASDAQ:ODP)

American Century Companies Inc. raised its position in shares of The ODP Co. (NASDAQ:ODPFree Report) by 11.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 524,628 shares of the specialty retailer’s stock after acquiring an additional 54,836 shares during the period. American Century Companies Inc. owned approximately 1.40% of ODP worth $24,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. bought a new position in shares of ODP in the second quarter worth about $30,000. First Capital Advisors Group LLC. bought a new position in shares of ODP in the second quarter worth about $33,000. Gladius Capital Management LP grew its holdings in shares of ODP by 94.6% in the third quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $34,000 after purchasing an additional 351 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ODP in the third quarter worth about $34,000. Finally, Point72 Asset Management L.P. bought a new position in shares of ODP in the second quarter worth about $42,000. Institutional investors own 99.56% of the company’s stock.

Wall Street Analyst Weigh In

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

Get Our Latest Research Report on ODP

ODP Stock Up 0.4 %

Shares of ODP stock opened at $50.32 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.54. The ODP Co. has a 1 year low of $39.36 and a 1 year high of $58.98. The firm’s 50-day moving average is $52.23 and its two-hundred day moving average is $49.49. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 0.64 and a beta of 1.63.

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

ODP announced that its board has approved a share repurchase program on Wednesday, February 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 48.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ODP

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of the 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 sale, the chief financial officer now directly owns 96,104 shares of the company’s stock, valued at $5,285,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.10% of the company’s stock.

ODP Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ODP (NASDAQ:ODP)

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