Counterpoint Mutual Funds LLC Buys Shares of 22,867 The ODP Corporation $ODP

Key Points

• Counterpoint Mutual Funds LLC acquired a new position in The ODP Corporation, purchasing 22,867 shares valued at approximately $415,000 during the 2nd quarter.
• Multiple hedge funds, including Allianz Asset Management GmbH and Millennium Management LLC, have significantly increased their holdings in ODP, indicating strong institutional interest in the company.
• Analysts have adjusted their price targets for ODP, with UBS Group raising its target from $17.00 to $19.00, while the stock currently has an average rating of "Hold."

Counterpoint Mutual Funds LLC purchased a new position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 22,867 shares of the specialty retailer's stock, valued at approximately $415,000. Counterpoint Mutual Funds LLC owned 0.08% of ODP as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. American Century Companies Inc. increased its position in ODP by 1.5% during the first quarter. American Century Companies Inc. now owns 1,028,782 shares of the specialty retailer's stock worth $14,742,000 after purchasing an additional 15,560 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of ODP by 2.1% during the 1st 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. Allianz Asset Management GmbH lifted its holdings in ODP by 28.2% in the first quarter. Allianz Asset Management GmbH now owns 821,669 shares of the specialty retailer's stock valued at $11,775,000 after acquiring an additional 180,758 shares during the last quarter. Invesco Ltd. lifted its holdings in ODP by 25.4% in the first quarter. Invesco Ltd. now owns 706,511 shares of the specialty retailer's stock valued at $10,124,000 after acquiring an additional 143,291 shares during the last quarter. Finally, Millennium Management LLC grew its position in ODP by 673.7% in the first quarter. Millennium Management LLC now owns 698,169 shares of the specialty retailer's stock worth $10,005,000 after acquiring an additional 607,935 shares during the period. Hedge funds and other institutional investors own 99.56% of the company's stock.

Analysts Set New Price Targets

ODP has been the topic of several recent analyst reports. UBS Group upped their price target on ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Noble Financial cut shares of ODP to a "market perform" rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of ODP from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, ODP presently has an average rating of "Hold" and an average target price of $19.00.

ODP Stock Up 0.7%

ODP opened at $27.86 on Wednesday. The ODP Corporation has a one year low of $11.85 and a one year high of $32.21. 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 stock has a market capitalization of $838.14 million, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 0.69 and a beta of 1.39. The business's 50-day simple moving average is $20.12 and its 200-day simple moving average is $17.37.

ODP (NASDAQ:ODP - Get Free Report) last released 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. ODP had a return on equity of 11.22% and a net margin of 0.39%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business posted $0.56 EPS. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. Analysts anticipate that The ODP Corporation will post 3.26 EPS for the current year.

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.

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