Connor Clark & Lunn Investment Management Ltd. Makes New $706,000 Investment in The ODP Corporation $ODP

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Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,296 shares of the specialty retailer's stock, valued at approximately $706,000. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of ODP at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ODP. Atlas FRM LLC purchased a new stake in ODP during the fourth quarter worth about $17,856,000. D. E. Shaw & Co. Inc. increased its stake in shares of ODP by 105.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer's stock worth $17,921,000 after buying an additional 404,041 shares during the period. Federated Hermes Inc. increased its stake in shares of ODP by 7,849.9% during the first quarter. Federated Hermes Inc. now owns 319,427 shares of the specialty retailer's stock worth $4,577,000 after buying an additional 315,409 shares during the period. Toronto Dominion Bank purchased a new stake in shares of ODP during the fourth quarter worth approximately $7,149,000. Finally, Findell Capital Management LLC purchased a new stake in shares of ODP during the fourth quarter worth approximately $5,571,000. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of ODP from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group upped their target price on shares of ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th.

ODP Stock Down 2.5%

ODP stock opened at $20.55 on Tuesday. The company's 50 day moving average price is $18.36 and its 200 day moving average price is $16.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.94. The ODP Corporation has a fifty-two week low of $11.85 and a fifty-two week high of $32.21. The firm has a market capitalization of $618.14 million, a price-to-earnings ratio of 31.14, a PEG ratio of 0.52 and a beta of 1.38.

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