Allianz Asset Management GmbH Acquires 30,302 Shares of The ODP Corporation $ODP

Key Points

• Allianz Asset Management GmbH increased its holdings in The ODP Corporation by 3.7%, acquiring an additional 30,302 shares, bringing its total to 851,971 shares valued at approximately $15.4 million.
• ODP reported a quarterly earnings per share (EPS) of $0.51, exceeding analysts' expectations of $0.33, but the revenue decreased by 7.6% year-over-year.
• The company's stock has a consensus rating of "Reduce" from analysts, with an average price target of $19.00.

Allianz Asset Management GmbH increased its holdings in The ODP Corporation (NASDAQ:ODP - Free Report) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 851,971 shares of the specialty retailer's stock after buying an additional 30,302 shares during the quarter. Allianz Asset Management GmbH owned about 2.83% of ODP worth $15,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ODP. Farther Finance Advisors LLC boosted its position in ODP by 265,600.0% in the first quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after purchasing an additional 2,656 shares during the last quarter. GAMMA Investing LLC boosted its position in ODP by 169.0% in the first quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer's stock worth $150,000 after purchasing an additional 6,557 shares during the last quarter. SG Americas Securities LLC purchased a new position in ODP in the first quarter worth about $293,000. New York State Teachers Retirement System boosted its position in ODP by 5.7% in the first quarter. New York State Teachers Retirement System now owns 45,112 shares of the specialty retailer's stock worth $646,000 after purchasing an additional 2,446 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in ODP by 2.6% in the first quarter. Principal Financial Group Inc. now owns 149,923 shares of the specialty retailer's stock worth $2,148,000 after purchasing an additional 3,735 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

ODP Trading Up 0.1%

Shares of NASDAQ:ODP opened at $27.80 on Tuesday. The stock has a 50 day moving average of $23.77 and a 200 day moving average of $19.10. The company has a market cap of $836.34 million, a PE ratio of 42.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The ODP Corporation has a 12-month low of $11.85 and a 12-month high of $32.21.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. ODP had a return on equity of 11.22% and a net margin of 0.39%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the company posted $0.56 EPS. The firm's revenue was down 7.6% on a year-over-year basis. As a group, equities research analysts expect that The ODP Corporation will post 3.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Noble Financial cut ODP from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, September 23rd. UBS Group lifted their price objective on ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of ODP in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ODP has a consensus rating of "Reduce" and an average target price of $19.00.

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.

Want to see what other hedge funds are holding ODP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The ODP Corporation (NASDAQ:ODP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.