Empowered Funds LLC Grows Stock Holdings in The ODP Co. (NASDAQ:ODP)

Empowered Funds LLC raised its position in The ODP Co. (NASDAQ:ODP) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,427 shares of the specialty retailer’s stock after purchasing an additional 9,380 shares during the quarter. Empowered Funds LLC’s holdings in ODP were worth $5,516,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. KBC Group NV raised its stake in 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 in the last quarter. Victory Capital Management Inc. raised its position in shares of ODP by 23.4% in the 3rd quarter. Victory Capital Management Inc. now owns 63,562 shares of the specialty retailer’s stock worth $1,891,000 after acquiring an additional 12,061 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of ODP by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after purchasing an additional 459 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in ODP by 124.1% during the third quarter. Harbor Capital Advisors Inc. now owns 81,544 shares of the specialty retailer’s stock valued at $2,426,000 after purchasing an additional 45,155 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in ODP by 2.1% in the third quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock valued at $569,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

ODP Price Performance

Shares of NASDAQ ODP opened at $25.18 on Monday. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The company has a market cap of $758.42 million, a PE ratio of -27.67, a P/E/G ratio of 0.55 and a beta of 1.48. 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 business has a 50-day simple moving average of $29.47 and a two-hundred day simple moving average of $34.66.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.88 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ODP shares. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group lowered their target price on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

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.