Swiss National Bank Cuts Stake in The ODP Co. (NASDAQ:ODP)

Swiss National Bank lessened its position in The ODP Co. (NASDAQ:ODP) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 65,989 shares of the specialty retailer’s stock after selling 4,100 shares during the period. Swiss National Bank owned approximately 0.22% of ODP worth $1,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 58,062 shares during the period. FMR LLC grew its holdings in ODP by 26.7% during the third quarter. FMR LLC now owns 114,026 shares of the specialty retailer’s stock worth $3,392,000 after acquiring an additional 24,020 shares during the period. FORA Capital LLC purchased a new position in ODP in the third quarter worth $380,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ODP by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock valued at $268,000 after acquiring an additional 1,049 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in shares of ODP by 1.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 71,224 shares of the specialty retailer’s stock worth $2,119,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

ODP Stock Performance

NASDAQ ODP opened at $14.31 on Friday. The business has a 50 day moving average price of $18.51 and a 200 day moving average price of $24.27. The company has a market capitalization of $426.70 million, a P/E ratio of -15.73, a PEG ratio of 0.30 and a beta of 1.55. The ODP Co. has a 1-year low of $13.44 and a 1-year high of $53.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.14). The firm 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%. Sell-side analysts expect 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.