HighTower Advisors LLC Sells 826 Shares of The ODP Co. (NASDAQ:ODP)

HighTower Advisors LLC trimmed its position in The ODP Co. (NASDAQ:ODP) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,045 shares of the specialty retailer’s stock after selling 826 shares during the period. HighTower Advisors LLC’s holdings in ODP were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ODP. Bank of New York Mellon Corp boosted its holdings in ODP by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 304,279 shares of the specialty retailer’s stock worth $11,949,000 after purchasing an additional 8,618 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of ODP during the 2nd quarter valued at $68,000. Picton Mahoney Asset Management bought a new stake in shares of ODP during the 2nd quarter worth $164,000. Rhumbline Advisers boosted its holdings in shares of ODP by 0.9% in the 2nd quarter. Rhumbline Advisers now owns 109,855 shares of the specialty retailer’s stock worth $4,314,000 after buying an additional 1,000 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in ODP by 121.1% during the second quarter. Victory Capital Management Inc. now owns 51,501 shares of the specialty retailer’s stock valued at $2,022,000 after buying an additional 28,210 shares during the period. Institutional investors own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group dropped their price target on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.

ODP Stock Performance

Shares of ODP stock opened at $24.06 on Wednesday. The firm’s 50 day moving average is $27.68 and its 200 day moving average is $31.72. The stock has a market capitalization of $724.64 million, a P/E ratio of -26.44, a PEG ratio of 0.60 and a beta of 1.40. The ODP Co. has a 12 month low of $23.69 and a 12 month high of $58.98. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The company’s revenue was down 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that The ODP Co. will post 3.26 earnings per share for the current year.

ODP 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.