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% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,090 shares of the specialty retailer’s stock after selling 2,334 shares during the quarter. Duality Advisers LP’s holdings in ODP were worth $512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ODP. Pacer Advisors Inc. raised its stake in ODP by 49.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,481,692 shares of the specialty retailer’s stock worth $83,419,000 after acquiring an additional 493,233 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in ODP during the 3rd quarter worth $3,396,000. CX Institutional acquired a new stake in ODP during the 3rd quarter worth $3,212,000. Allspring Global Investments Holdings LLC grew its position in ODP by 169.0% during the 4th 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. grew its position in ODP by 11.7% during the 3rd 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.

ODP Trading Up 0.4 %

Shares of ODP stock opened at $51.43 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of 15.22, a PEG ratio of 0.64 and a beta of 1.62. The company’s fifty day moving average is $51.86 and its two-hundred day moving average is $50.28. 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 ODP Co. has a 1 year low of $39.36 and a 1 year high of $58.98.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.16. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. ODP had a net margin of 1.77% and a return on equity of 19.45%. The business’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Analysts forecast that The ODP Co. will post 5.71 earnings per share for the current year.

ODP announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 48.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Diego Anthony Scaglione sold 25,000 shares of ODP stock in a transaction dated Friday, March 1st. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ODP has been the topic of several research reports. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. TheStreet downgraded shares of ODP from a “b-” rating to a “c+” rating in a research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.00.

ODP Company Profile

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.