The ODP Corporation (NASDAQ:ODP) Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in The ODP Corporation by 28.2%, owning 821,669 shares after acquiring an additional 180,758 shares in the first quarter.
• The ODP Corporation reported $1.06 EPS for the last quarter, exceeding estimates, but had a 9.2% revenue decline year-over-year with total revenue of $1.70 billion.
• Wall Street analysts have lowered ODP's rating from a "buy" to a "hold," reflecting caution among investors regarding future performance.

Allianz Asset Management GmbH boosted its holdings in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 28.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 821,669 shares of the specialty retailer's stock after purchasing an additional 180,758 shares during the period. Allianz Asset Management GmbH owned approximately 2.76% of ODP worth $11,775,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in ODP by 265,600.0% during the 1st 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. Tower Research Capital LLC TRC boosted its holdings in shares of ODP by 38.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after acquiring an additional 1,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ODP in the fourth quarter valued at about $143,000. KLP Kapitalforvaltning AS purchased a new stake in shares of ODP in the fourth quarter valued at about $150,000. Finally, GAMMA Investing LLC boosted its holdings in shares of ODP by 169.0% in the first quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer's stock valued at $150,000 after acquiring an additional 6,557 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

ODP Price Performance

Shares of NASDAQ ODP traded down $0.62 during midday trading on Tuesday, hitting $17.45. The company had a trading volume of 142,645 shares, compared to its average volume of 608,552. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. The ODP Corporation has a twelve month low of $11.85 and a twelve month high of $43.31. The business has a 50-day simple moving average of $17.69 and a two-hundred day simple moving average of $17.31. The firm has a market capitalization of $524.87 million, a price-to-earnings ratio of -12.52, a price-to-earnings-growth ratio of 0.44 and a beta of 1.34.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.65 by $0.41. ODP had a negative net margin of 0.69% and a positive return on equity of 11.50%. The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the business earned $1.05 earnings per share. The business's revenue for the quarter was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that The ODP Corporation will post 3.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd.

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.