Millennium Management LLC Buys 46,800 Shares of The ODP Co. (NASDAQ:ODP)

Millennium Management LLC raised its position in The ODP Co. (NASDAQ:ODP - Free Report) by 107.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,234 shares of the specialty retailer's stock after buying an additional 46,800 shares during the quarter. Millennium Management LLC owned about 0.30% of ODP worth $2,052,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of 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 purchasing an additional 1,198 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of ODP in the 4th quarter worth $150,000. Inceptionr LLC bought a new stake in shares of ODP in the 4th quarter worth $223,000. Walleye Capital LLC purchased a new position in shares of ODP in the 4th quarter worth about $253,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of ODP by 17.6% in the 4th quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer's stock worth $258,000 after buying an additional 1,700 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of ODP from a "hold" rating to a "buy" rating in a report on Friday, May 9th.

ODP Trading Up 1.5%

Shares of ODP stock traded up $0.26 on Thursday, hitting $18.00. The stock had a trading volume of 369,105 shares, compared to its average volume of 618,440. The stock's 50-day simple moving average is $14.94 and its two-hundred day simple moving average is $19.20. The ODP Co. has a one year low of $11.85 and a one year high of $43.31. The stock has a market cap of $541.48 million, a price-to-earnings ratio of -19.78, a PEG ratio of 0.30 and a beta of 1.29. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.41. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $1.05 earnings per share. The company's revenue was down 9.2% on a year-over-year basis. As a group, sell-side analysts predict that The ODP Co. 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.