Amalgamated Bank Reduces Stock Position in The ODP Co. (NASDAQ:ODP)

Amalgamated Bank decreased its stake in The ODP Co. (NASDAQ:ODP) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,062 shares of the specialty retailer’s stock after selling 810 shares during the quarter. Amalgamated Bank’s holdings in ODP were worth $206,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its stake in shares of ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after buying an additional 868 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after buying an additional 3,071 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ODP by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock worth $268,000 after buying an additional 1,049 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of ODP in the third quarter worth about $279,000. Finally, Centiva Capital LP purchased a new stake in shares of ODP in the third quarter worth about $288,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ODP. UBS Group reduced their price target on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a report on Friday, February 28th.

ODP Stock Performance

NASDAQ ODP opened at $14.87 on Wednesday. The stock has a market capitalization of $443.38 million, a price-to-earnings ratio of -16.34, a PEG ratio of 0.30 and a beta of 1.38. The ODP Co. has a twelve month low of $13.44 and a twelve month high of $53.85. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $21.49 and a 200 day moving average of $26.07.

ODP (NASDAQ:ODP) last announced its earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. Sell-side analysts anticipate that The ODP Co. will post 3.26 EPS for the current fiscal year.

About ODP

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.