Franklin Resources Inc. trimmed its holdings in shares of The ODP Co. (NASDAQ:ODP – Get Rating) by 53.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,241 shares of the specialty retailer’s stock after selling 197,461 shares during the quarter. Franklin Resources Inc. owned 0.38% of ODP worth $7,844,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in shares of ODP during the second quarter worth $42,000. Quantbot Technologies LP acquired a new stake in shares of ODP during the third quarter worth $101,000. PNC Financial Services Group Inc. increased its position in shares of ODP by 9.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock worth $139,000 after buying an additional 270 shares during the period. Canada Pension Plan Investment Board increased its position in shares of ODP by 50,000.0% during the third quarter. Canada Pension Plan Investment Board now owns 5,010 shares of the specialty retailer’s stock worth $176,000 after buying an additional 5,000 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of ODP by 12.1% during the second quarter. Captrust Financial Advisors now owns 6,060 shares of the specialty retailer’s stock worth $183,000 after buying an additional 656 shares during the period. 96.98% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, StockNews.com cut shares of ODP from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 27th.
Insiders Place Their Bets
ODP Trading Up 0.9 %
NASDAQ:ODP opened at $40.41 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.55 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 10.20 and a beta of 1.79. The firm has a fifty day simple moving average of $42.82 and a two-hundred day simple moving average of $46.25. The ODP Co. has a 12 month low of $28.85 and a 12 month high of $53.59.
ODP (NASDAQ:ODP – Get Rating) last posted its quarterly earnings results on Wednesday, May 10th. The specialty retailer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.44. The business had revenue of $2.11 billion during the quarter. ODP had a net margin of 2.17% and a return on equity of 16.67%. During the same quarter in the previous year, the business posted $1.27 earnings per share. Analysts expect that The ODP Co. will post 4.8 EPS for the current fiscal year.
ODP Company Profile
The ODP Corp. is a holding company, which engages in the provision of business services and supplies, products, and digital workplace technology solutions. It operates through the following divisions: ODP Business Solutions, Office Depot, Veyer, and Varis. The ODP Business Solutions division provides solutions to small, medium and enterprise level companies, including those in the public and education sectors.
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