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

Federated Hermes Inc. lessened its holdings in shares of The ODP Co. (NASDAQ:ODP) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,660 shares of the specialty retailer’s stock after selling 1,922 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of ODP worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ODP. CWM LLC lifted its position in shares of ODP by 81.3% during the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 422 shares in the last quarter. Quest Partners LLC purchased a new stake in ODP in the 4th quarter worth $63,000. Innealta Capital LLC bought a new stake in ODP during the second quarter valued at about $68,000. Gladius Capital Management LP lifted its position in shares of ODP by 227.8% in the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after acquiring an additional 1,515 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of ODP in the first quarter worth about $218,000. Institutional investors own 99.56% of the company’s stock.

ODP Stock Performance

NASDAQ ODP opened at $28.64 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.43. The ODP Co. has a 1-year low of $23.69 and a 1-year high of $58.98. The business has a 50 day simple moving average of $32.80 and a two-hundred day simple moving average of $40.83. The stock has a market capitalization of $1.03 billion, a PE ratio of 13.84, a P/E/G ratio of 0.47 and a beta of 1.51.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.64). ODP had a positive return on equity of 15.93% and a negative net margin of 0.34%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. On average, research analysts predict that The ODP Co. will post 4.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ODP. UBS Group reduced their price objective on shares of ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. StockNews.com downgraded shares of ODP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th.

Insider Activity at ODP

In related news, Director Wendy Lee Schoppert purchased 3,875 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $25.77 per share, for a total transaction of $99,858.75. Following the completion of the transaction, the director now owns 3,875 shares in the company, valued at approximately $99,858.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.60% of the stock is owned by insiders.

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.