Victory Capital Management Inc. Decreases Position in The ODP Co. (NASDAQ:ODP)

Victory Capital Management Inc. decreased its position in The ODP Co. (NASDAQ:ODP) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,973 shares of the specialty retailer’s stock after selling 6,589 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of ODP worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in ODP by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after acquiring an additional 459 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $2,458,000 after acquiring an additional 790 shares during the last quarter. KBC Group NV raised its stake in ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 868 shares during the last quarter. Public Sector Pension Investment Board raised its stake in ODP by 1.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 71,224 shares of the specialty retailer’s stock worth $2,119,000 after acquiring an additional 900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ODP by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock worth $268,000 after acquiring an additional 1,049 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ODP Price Performance

Shares of ODP opened at $15.19 on Wednesday. The business’s 50-day moving average is $19.94 and its two-hundred day moving average is $25.00. The company has a market capitalization of $452.92 million, a P/E ratio of -16.69, a P/E/G ratio of 0.30 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The ODP Co. has a fifty-two week low of $13.44 and a fifty-two week high of $53.56.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.14). The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. Research analysts predict that The ODP Co. will post 3.26 earnings per share for the current 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.