Federated Hermes Inc. Has $4.58 Million Holdings in The ODP Corporation (NASDAQ:ODP)

Key Points

• Federated Hermes Inc. significantly increased its stake in The ODP Corporation by 7,849.9% in the first quarter, owning approximately 1.07% of shares valued at $4.57 million after acquiring 315,409 additional shares.
• The ODP Corporation reported a quarterly earnings per share (EPS) of $1.06, exceeding analysts' expectations of $0.65, although its revenue declined by 9.2% year-over-year.
• Despite positive earnings, Wall Street analysts downgraded ODP from a "buy" rating to a "hold" rating, indicating potential caution among investors.

Federated Hermes Inc. lifted its position in The ODP Corporation (NASDAQ:ODP - Free Report) by 7,849.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 319,427 shares of the specialty retailer's stock after buying an additional 315,409 shares during the quarter. Federated Hermes Inc. owned approximately 1.07% of ODP worth $4,577,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ODP. Farther Finance Advisors LLC grew its holdings in ODP by 265,600.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 2,656 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 buying an additional 1,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ODP during the fourth quarter valued at approximately $143,000. Y Intercept Hong Kong Ltd acquired a new position in ODP during the 1st quarter valued at $143,000. Finally, KLP Kapitalforvaltning AS bought a new stake in ODP in the fourth quarter valued at about $150,000. Institutional investors and hedge funds own 99.56% of the company's stock.

ODP Trading Up 1.7%

ODP stock traded up $0.33 during trading hours on Thursday, hitting $19.54. The company had a trading volume of 281,644 shares, compared to its average volume of 613,798. The ODP Corporation has a 1 year low of $11.85 and a 1 year high of $32.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.45 and a current ratio of 0.94. The company has a 50-day moving average price of $17.95 and a two-hundred day moving average price of $17.11. The firm has a market cap of $587.76 million, a P/E ratio of -14.08, a P/E/G ratio of 0.41 and a beta of 1.38.

ODP (NASDAQ:ODP - Get Free Report) last announced its earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 positive return on equity of 11.50% and a negative net margin of 0.69%. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 earnings per share. On average, sell-side analysts anticipate that The ODP Corporation will post 3.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

ODP has been the topic of a number of analyst reports. UBS Group increased their price target on shares of ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday. Wall Street Zen downgraded ODP from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd.

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.