Pacer Advisors Inc. Boosts Holdings in The ODP Co. (NASDAQ:ODP)

Pacer Advisors Inc. lifted its stake in The ODP Co. (NASDAQ:ODPFree Report) by 49.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,481,692 shares of the specialty retailer’s stock after buying an additional 493,233 shares during the quarter. Pacer Advisors Inc.’s holdings in ODP were worth $83,419,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ODP. Bessemer Group Inc. bought a new stake in ODP during the second quarter valued at approximately $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 ODP by 94.6% during the 3rd quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $34,000 after acquiring an additional 351 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of ODP during the third quarter valued at about $34,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of ODP in the 2nd quarter valued at approximately $42,000. 99.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ODP

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $5,285,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on ODP

ODP Stock Performance

Shares of ODP stock opened at $52.37 on Monday. The ODP Co. has a one year low of $39.36 and a one year high of $58.98. The company has a market cap of $1.92 billion, a PE ratio of 15.49, a P/E/G ratio of 0.66 and a beta of 1.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.54 and a current ratio of 0.99. The business has a 50-day simple moving average of $52.25 and a 200-day simple moving average of $49.56.

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

ODP declared that its board has authorized a stock buyback program on Wednesday, February 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 48.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

About ODP

(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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