Invesco Ltd. Purchases 143,291 Shares of The ODP Corporation $ODP

Key Points

• Invesco Ltd. increased its stake in The ODP Corporation (NASDAQ:ODP) by 25.4%, owning approximately 706,511 shares valued at about $10.12 million at the end of the recent quarter.
• Shares of ODP opened at $21.33, representing a 6.3% increase, with the stock currently having a market capitalization of $641.61 million.
• ODP reported earnings per share (EPS) of $0.51, exceeding analysts' expectations by $0.18, although its revenue decreased by 7.6% year-over-year.

Invesco Ltd. grew its stake in The ODP Corporation (NASDAQ:ODP - Free Report) by 25.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,511 shares of the specialty retailer's stock after buying an additional 143,291 shares during the period. Invesco Ltd. owned approximately 2.35% of ODP worth $10,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in ODP by 265,600.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after buying an additional 2,656 shares in the last quarter. Headlands Technologies LLC purchased a new position in ODP in the 1st quarter worth approximately $47,000. Tower Research Capital LLC TRC grew 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 worth $98,000 after buying an additional 1,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in ODP in the 4th quarter worth approximately $143,000. Finally, ProShare Advisors LLC grew its stake in ODP by 34.9% in the 4th quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock worth $223,000 after buying an additional 2,536 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company's stock.

ODP Trading Down 2.2%

Shares of ODP traded down $0.45 during mid-day trading on Friday, reaching $20.26. The company's stock had a trading volume of 346,209 shares, compared to its average volume of 485,666. The stock has a market cap of $609.42 million, a PE ratio of 30.70, a P/E/G ratio of 0.50 and a beta of 1.38. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The ODP Corporation has a 52 week low of $11.85 and a 52 week high of $32.21. The company's fifty day moving average price is $18.96 and its two-hundred day moving average price is $16.84.

ODP (NASDAQ:ODP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 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 analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $0.56 EPS. The firm's revenue was down 7.6% compared to the same quarter last year. On average, analysts predict that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.