Principal Financial Group Inc. Purchases 459 Shares of The ODP Co. (NASDAQ:ODP)

Principal Financial Group Inc. lifted its position in shares of The ODP Co. (NASDAQ:ODP) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,407 shares of the specialty retailer’s stock after acquiring an additional 459 shares during the period. Principal Financial Group Inc. owned approximately 0.53% of ODP worth $4,713,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ODP. Quarry LP raised its stake in ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 688 shares in the last quarter. KBC Group NV increased its position in ODP by 88.9% during the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 868 shares in the last quarter. SG Americas Securities LLC bought a new position in ODP in the 3rd quarter valued at approximately $104,000. Hsbc Holdings PLC acquired a new stake in ODP in the second quarter valued at approximately $282,000. Finally, Intech Investment Management LLC bought a new stake in shares of ODP during the second quarter worth $338,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Trading Down 3.3 %

Shares of NASDAQ ODP opened at $22.00 on Friday. The firm has a 50 day moving average price of $26.56 and a two-hundred day moving average price of $31.06. The stock has a market cap of $662.60 million, a P/E ratio of -24.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The ODP Co. has a 52-week low of $21.66 and a 52-week high of $58.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on ODP shares. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group cut their price target on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note 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.