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

Victory Capital Management Inc. grew its stake in The ODP Co. (NASDAQ:ODP) by 23.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,562 shares of the specialty retailer’s stock after acquiring an additional 12,061 shares during the quarter. Victory Capital Management Inc. owned about 0.19% of ODP worth $1,891,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ODP. CWM LLC lifted its holdings in ODP by 81.3% in the 2nd quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 422 shares in the last quarter. Quarry LP lifted its stake in shares of ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 688 shares during the period. Innealta Capital LLC acquired a new stake in ODP during the second quarter worth approximately $68,000. Gladius Capital Management LP grew its stake in ODP by 227.8% in the 2nd quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock worth $86,000 after acquiring an additional 1,515 shares during the period. Finally, SG Americas Securities LLC acquired a new position in ODP in the 3rd quarter valued at $104,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Stock Up 2.4 %

Shares of NASDAQ ODP opened at $27.26 on Monday. The stock has a market capitalization of $821.07 million, a PE ratio of -29.96, a P/E/G ratio of 0.58 and a beta of 1.48. The ODP Co. has a 52-week low of $23.69 and a 52-week high of $58.98. 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 firm has a fifty day moving average of $29.25 and a 200-day moving average of $33.83.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ODP shares. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group lowered 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.

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.