Bank of New York Mellon Corp Sells 54,601 Shares of The ODP Co. (NASDAQ:ODP)

Bank of New York Mellon Corp lessened its holdings in shares of The ODP Co. (NASDAQ:ODP) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,251 shares of the specialty retailer’s stock after selling 54,601 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.75% of ODP worth $5,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ODP. New York State Common Retirement Fund raised its holdings in ODP by 17.6% in the fourth quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 1,700 shares in the last quarter. Empowered Funds LLC lifted its position in ODP by 5.1% during the fourth quarter. Empowered Funds LLC now owns 194,875 shares of the specialty retailer’s stock valued at $4,431,000 after buying an additional 9,448 shares during the period. Wedge Capital Management L L P NC lifted its position in ODP by 8.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 49,960 shares of the specialty retailer’s stock valued at $1,136,000 after buying an additional 3,892 shares during the period. Harbor Capital Advisors Inc. lifted its position in ODP by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 82,784 shares of the specialty retailer’s stock valued at $1,883,000 after buying an additional 1,240 shares during the period. Finally, GAMMA Investing LLC lifted its position in ODP by 380.1% during the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after buying an additional 3,071 shares during the period. Institutional investors own 99.56% of the company’s stock.

ODP Stock Up 6.7 %

NASDAQ ODP opened at $15.87 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The ODP Co. has a 52 week low of $13.44 and a 52 week high of $53.56. The company has a market capitalization of $473.20 million, a P/E ratio of -17.44, a price-to-earnings-growth ratio of 0.30 and a beta of 1.55. The stock’s 50-day moving average price is $20.09 and its 200-day moving average price is $25.12.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share 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 analysts’ expectations of $1.61 billion. On average, equities research analysts predict that The ODP Co. will post 3.26 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded ODP from a “buy” rating to a “hold” rating in a report on Friday, February 28th.

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.