The ODP Co. (NASDAQ:ODP) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lessened its holdings in shares of The ODP Co. (NASDAQ:ODP) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,025,906 shares of the specialty retailer’s stock after selling 77,467 shares during the period. Goldman Sachs Group Inc. owned 2.74% of ODP worth $57,759,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gladius Capital Management LP raised its holdings in ODP by 94.6% during the third quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 351 shares in the last quarter. Quest Partners LLC acquired a new stake in ODP during the 4th quarter worth $63,000. Los Angeles Capital Management LLC acquired a new stake in ODP during the 4th quarter worth $201,000. Counterpoint Mutual Funds LLC acquired a new position in ODP in the fourth quarter valued at $211,000. Finally, Jump Financial LLC acquired a new position in ODP in the fourth quarter valued at $315,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ODP. TheStreet downgraded ODP from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. StockNews.com raised 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

ODP Price Performance

Shares of NASDAQ:ODP opened at $39.58 on Wednesday. The ODP Co. has a one year low of $37.24 and a one year high of $58.98. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 0.43 and a beta of 1.58. The company has a 50-day simple moving average of $44.18 and a 200-day simple moving average of $49.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.49 and a current ratio of 0.94.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, May 8th. The specialty retailer reported $1.05 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.59). ODP had a net margin of 1.08% and a return on equity of 16.67%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The firm’s revenue was down 11.2% on a year-over-year basis. On average, analysts predict that The ODP Co. will post 6.4 EPS for the current year.

ODP declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 48.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.