The ODP Corporation $ODP Shares Sold by Comerica Bank

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 trimmed its holdings in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 53.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ODP. Farther Finance Advisors LLC raised its holdings in shares of ODP by 265,600.0% in the first quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock valued at $37,000 after acquiring an additional 2,656 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of ODP in the first quarter valued at about $41,000. Headlands Technologies LLC bought a new stake in shares of ODP in the first quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ODP in the fourth quarter valued at about $143,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of ODP in the first quarter valued at about $143,000. 99.56% of the stock is currently owned by institutional investors.

ODP Stock Up 4.7%

NASDAQ ODP traded up $0.96 during trading on Tuesday, hitting $21.43. The company's stock had a trading volume of 556,772 shares, compared to its average volume of 397,380. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.45. The company has a market cap of $644.61 million, a PE ratio of 32.47, a P/E/G ratio of 0.51 and a beta of 1.40. The business's 50 day simple moving average is $19.56 and its 200-day simple moving average is $17.07. The ODP Corporation has a fifty-two week low of $11.85 and a fifty-two week high of $32.21.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on ODP. Wall Street Zen downgraded ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group lifted their price objective on ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.00.

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.