Goldman Sachs Group Inc. Has $3.17 Million Holdings in The ODP Corporation $ODP

Key Points

• Goldman Sachs Group Inc. has reduced its holdings in The ODP Corporation by 43.8% during the first quarter, now owning 221,224 shares valued at $3.17 million.
• Several institutional investors, including Allianz Asset Management and Millennium Management, have made significant increases to their positions in ODP, with Millennium Management increasing its stake by 673.7%.
• The ODP Corporation reported earnings per share of $0.51 for the latest quarter, surpassing estimates, but showed a 7.6% year-over-year decline in quarterly revenue.

Goldman Sachs Group Inc. lessened its position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 43.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,224 shares of the specialty retailer's stock after selling 172,599 shares during the period. Goldman Sachs Group Inc. owned approximately 0.74% of ODP worth $3,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ODP by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 120,014 shares of the specialty retailer's stock worth $1,720,000 after acquiring an additional 13,210 shares during the period. Empowered Funds LLC boosted its holdings in shares of ODP by 3.7% during the first quarter. Empowered Funds LLC now owns 202,111 shares of the specialty retailer's stock worth $2,896,000 after acquiring an additional 7,236 shares during the period. Mork Capital Management LLC boosted its holdings in shares of ODP by 100.0% during the first quarter. Mork Capital Management LLC now owns 150,000 shares of the specialty retailer's stock worth $2,150,000 after acquiring an additional 75,000 shares during the period. Millennium Management LLC boosted its holdings in shares of ODP by 673.7% during 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. Finally, Boothbay Fund Management LLC bought a new stake in shares of ODP during the first quarter worth approximately $8,248,000. Institutional investors own 99.56% of the company's stock.

ODP Stock Up 0.3%

Shares of ODP stock traded up $0.09 on Tuesday, reaching $27.77. 700,141 shares of the company were exchanged, compared to its average volume of 618,977. The company has a market cap of $835.17 million, a price-to-earnings ratio of 42.07, a PEG ratio of 0.52 and a beta of 1.39. The company has a 50-day moving average of $19.92 and a 200-day moving average of $17.30. 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 ODP Corporation has a one year low of $11.85 and a one year high of $32.21.

ODP (NASDAQ:ODP - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The business's revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 EPS. Analysts anticipate that The ODP Corporation will post 3.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ODP. UBS Group boosted their price objective on ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen cut ODP from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.