Neuberger Berman Group LLC Has $13.36 Million Stake in The ODP Corporation $ODP

Key Points

• Neuberger Berman Group LLC has increased its holdings in The ODP Corporation by 2.1%, owning a total of 931,156 shares valued at approximately $13.36 million.
• A recent earnings report showed ODP achieving an EPS of $0.51, which exceeded expectations of $0.33, despite a year-over-year revenue decline of 7.6%.
• Analysts have mixed ratings for ODP, with UBS Group raising its price target from $17.00 to $19.00 and Wall Street Zen downgrading it from "buy" to "hold".

Neuberger Berman Group LLC lifted its position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 931,156 shares of the specialty retailer's stock after acquiring an additional 19,552 shares during the quarter. Neuberger Berman Group LLC owned 3.10% of ODP worth $13,358,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its holdings in ODP by 2.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 28,189 shares of the specialty retailer's stock valued at $641,000 after acquiring an additional 568 shares during the last quarter. MetLife Investment Management LLC boosted its position 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 during the period. Yousif Capital Management LLC boosted its position in ODP by 7.8% in the 1st 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 during the period. Tower Research Capital LLC TRC boosted its position 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 during the period. Finally, New York State Teachers Retirement System lifted its position in shares of 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 worth $646,000 after purchasing an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 99.56% of the company's stock.

Wall Street Analyst Weigh In

ODP has been the topic of several research reports. UBS Group raised 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 downgraded shares of 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, the company currently has a consensus rating of "Hold" and an average target price of $19.00.

ODP Price Performance

Shares of ODP traded up $0.4750 during mid-day trading on Tuesday, hitting $21.0250. The company's stock had a trading volume of 114,487 shares, compared to its average volume of 605,624. The firm has a 50-day moving average price of $18.36 and a 200 day moving average price of $16.83. The stock has a market capitalization of $632.43 million, a price-to-earnings ratio of 31.71, a PEG ratio of 0.52 and a beta of 1.38. 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 fifty-two week low of $11.85 and a fifty-two week high of $32.21.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The firm's revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, research analysts predict that The ODP Corporation will post 3.26 EPS for the current fiscal year.

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.