Hotchkis & Wiley Capital Management LLC Cuts Stock Position in The ODP Corporation $ODP

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in The ODP Corporation by 6.7%, now holding approximately $15.53 million worth of shares.
• Research analysts have a consensus rating of "Hold" for ODP, with a target price raised to $19.00 by UBS Group.
• ODP's quarterly earnings surpassed expectations, reporting $0.51 per share, although its revenue declined by 7.6% compared to the same quarter last year.

Hotchkis & Wiley Capital Management LLC lowered its stake in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,083,563 shares of the specialty retailer's stock after selling 78,130 shares during the period. Hotchkis & Wiley Capital Management LLC owned 3.60% of ODP worth $15,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ODP. Wells Fargo & Company MN increased its position in shares of ODP by 16.2% in the 4th quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer's stock valued at $444,000 after acquiring an additional 2,717 shares during the period. Barclays PLC boosted its stake in shares of ODP by 119.5% during the 4th quarter. Barclays PLC now owns 218,752 shares of the specialty retailer's stock worth $4,974,000 after acquiring an additional 119,081 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of ODP during the 4th quarter worth about $253,000. MetLife Investment Management LLC lifted its stake in ODP by 4.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,601 shares of the specialty retailer's stock valued at $491,000 after buying an additional 994 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in ODP by 38.3% in 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 in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on ODP. UBS Group raised their target price on shares of ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.00.

ODP Stock Performance

NASDAQ ODP traded down $0.54 during trading hours on Thursday, hitting $20.71. 663,174 shares of the stock were exchanged, compared to its average volume of 599,631. The company has a market cap of $622.96 million, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 0.50 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. The stock has a 50-day moving average of $18.80 and a 200 day moving average of $16.86. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30.

ODP (NASDAQ:ODP - Get Free Report) last issued 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. ODP had a net margin of 0.39% and a return on equity of 11.22%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period last year, the company posted $0.56 earnings per share. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that The ODP Corporation will post 3.26 earnings per share for the current year.

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.