Comerica Bank Has $171,000 Holdings in The ODP Corporation $ODP

Key Points

• Comerica Bank reduced its holdings in The ODP Corporation by 53.9% in the first quarter, now owning 11,951 shares valued at $171,000.
• Several institutional investors, including GAMMA Investing LLC and Yousif Capital Management LLC, have increased their stakes in ODP in the same quarter, indicating positive institutional interest.
• Wall Street analysts have mixed opinions on ODP, with the stock receiving a consensus rating of "Hold" and a target price adjustment from $17.00 to $19.00 by UBS Group.

Comerica Bank cut its holdings in The ODP Corporation (NASDAQ:ODP - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,951 shares of the specialty retailer's stock after selling 13,958 shares during the quarter. Comerica Bank's holdings in ODP were worth $171,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in 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 buying an additional 6,557 shares during the period. Yousif Capital Management LLC lifted its stake in ODP by 7.8% in the first quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer's stock valued at $218,000 after buying an additional 1,101 shares during the period. Neuberger Berman Group LLC lifted its stake in ODP by 2.1% in the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer's stock valued at $13,358,000 after buying an additional 19,552 shares during the period. New York State Teachers Retirement System raised its position in shares of ODP by 5.7% during 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 period. Finally, ProShare Advisors LLC raised its position in shares of ODP by 34.9% during the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock worth $223,000 after purchasing an additional 2,536 shares during the period. 99.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered ODP from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group upped their target price on ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, ODP currently has an average rating of "Hold" and a consensus price target of $19.00.

ODP Trading Down 1.5%

Shares of ODP stock opened at $20.32 on Thursday. The stock has a fifty day simple moving average of $19.40 and a 200 day simple moving average of $16.95. The ODP Corporation has a 12-month low of $11.85 and a 12-month high of $32.21. The company has a market capitalization of $611.23 million, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. ODP had a return on equity of 11.22% and a net margin of 0.39%.The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. ODP's revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

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.

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