Geode Capital Management LLC Buys 3,041 Shares of The ODP Co. (NASDAQ:ODP)

Geode Capital Management LLC grew its stake in shares of The ODP Co. (NASDAQ:ODP) by 0.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 813,895 shares of the specialty retailer’s stock after buying an additional 3,041 shares during the quarter. Geode Capital Management LLC owned approximately 2.70% of ODP worth $24,219,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ODP. Jane Street Group LLC grew its position in ODP by 31.1% during the 3rd quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock worth $5,717,000 after acquiring an additional 45,627 shares during the last quarter. Clearline Capital LP grew its holdings in shares of ODP by 108.7% during the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after purchasing an additional 65,033 shares during the last quarter. Weiss Asset Management LP increased its stake in shares of ODP by 2,219.3% in the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock valued at $16,992,000 after buying an additional 546,525 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ODP by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer’s stock valued at $2,458,000 after buying an additional 790 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in ODP by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after buying an additional 58,062 shares during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

ODP Price Performance

ODP stock opened at $22.92 on Friday. The firm has a market cap of $690.30 million, a P/E ratio of -25.19, a P/E/G ratio of 0.60 and a beta of 1.40. The stock’s 50 day moving average is $27.24 and its 200 day moving average is $31.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47. The ODP Co. has a one year low of $22.73 and a one year high of $58.33.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company posted $1.88 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. As a group, research analysts expect that The ODP Co. will post 3.26 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ODP. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group decreased their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

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.