Connor Clark & Lunn Investment Management Ltd. Buys Shares of 49,296 The ODP Corporation $ODP

Key Points

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Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of The ODP Corporation (NASDAQ:ODP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 quarter.

Several other large investors also recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its position in shares of ODP by 2.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 28,189 shares of the specialty retailer's stock valued at $641,000 after purchasing an additional 568 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of ODP by 4.8% during the 4th quarter. MetLife Investment Management LLC now owns 21,601 shares of the specialty retailer's stock valued at $491,000 after purchasing an additional 994 shares in the last quarter. Yousif Capital Management LLC boosted its position in shares of ODP by 7.8% during the 1st quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer's stock valued at $218,000 after purchasing an additional 1,101 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of ODP by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after purchasing an additional 1,198 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of ODP by 5.7% during the 1st quarter. New York State Teachers Retirement System now owns 45,112 shares of the specialty retailer's stock valued at $646,000 after purchasing an additional 2,446 shares in the last quarter. Institutional investors own 99.56% of the company's stock.

ODP Stock Up 6.3%

Shares of NASDAQ ODP traded up $1.26 during mid-day trading on Friday, reaching $21.33. The company had a trading volume of 539,333 shares, compared to its average volume of 507,733. The stock has a fifty day moving average of $18.57 and a two-hundred day moving average of $16.84. 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 company has a market capitalization of $641.69 million, a price-to-earnings ratio of 32.32, a PEG ratio of 0.53 and a beta of 1.38. 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 posted its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.18. The business had revenue of $1.59 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. As a group, equities research analysts expect that The ODP Corporation will post 3.26 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen lowered shares of ODP from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ODP presently has a consensus rating of "Hold" 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.