Graham Capital Management L.P. Acquires New Shares in The ODP Corporation $ODP

Key Points

• Graham Capital Management L.P. acquired a new stake in The ODP Corporation by purchasing 83,393 shares, valued at approximately $1,195,000, during the first quarter.
• ODP reported earnings per share of $0.51 for the last quarter, exceeding analysts' estimates of $0.33, although its year-over-year revenue decreased by 7.6%.
• Research analysts have shifted their outlook on ODP, with UBS Group raising the price target from $17.00 to $19.00, while one analyst downgraded the stock rating from "buy" to "hold."

Graham Capital Management L.P. acquired a new position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 83,393 shares of the specialty retailer's stock, valued at approximately $1,195,000. Graham Capital Management L.P. owned 0.28% of ODP at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Yousif Capital Management LLC grew its stake in shares of ODP by 7.8% in the first quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer's stock valued at $218,000 after buying an additional 1,101 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in 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. New York State Teachers Retirement System grew its stake in 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. ProShare Advisors LLC grew its stake in ODP by 34.9% during the 4th quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock valued at $223,000 after purchasing an additional 2,536 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 valued at $37,000 after purchasing an additional 2,656 shares in the last quarter. Institutional investors and hedge funds own 99.56% of the company's stock.

Analyst Upgrades and Downgrades

ODP has been the topic of several recent research reports. Wall Street Zen downgraded ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group raised their price target on ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.00.

ODP Stock Down 4.1%

Shares of NASDAQ:ODP traded down $0.91 on Monday, reaching $21.30. The company had a trading volume of 161,063 shares, compared to its average volume of 590,736. The ODP Corporation has a twelve month low of $11.85 and a twelve month high of $32.21. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $640.70 million, a P/E ratio of 32.20, a P/E/G ratio of 0.55 and a beta of 1.39. The stock has a 50-day moving average price of $19.30 and a 200 day moving average price of $16.88.

ODP (NASDAQ:ODP - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.59 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.The business's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. On average, equities analysts expect 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.