95,546 Shares in The ODP Corporation $ODP Acquired by Nuveen LLC

Key Points

• Nuveen LLC has invested approximately $1.37 million in The ODP Corporation, acquiring 95,546 shares, which represents about 0.32% of the company.
• ODP shares were rated with a consensus target price of $19.00, with UBS upgrading their price objective from $17.00 to $19.00 but maintaining a "neutral" rating.
• The ODP Corporation reported $0.51 earnings per share for the last quarter, exceeding estimates, but experienced a 7.6% decrease in quarterly revenue compared to the same period last year.

Nuveen LLC bought a new position in The ODP Corporation (NASDAQ:ODP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 95,546 shares of the specialty retailer's stock, valued at approximately $1,369,000. Nuveen LLC owned about 0.32% of ODP as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ODP. Wells Fargo & Company MN boosted its stake in shares of ODP by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer's stock worth $444,000 after buying an additional 2,717 shares during the last quarter. MetLife Investment Management LLC boosted its position in ODP by 4.8% during the fourth quarter. MetLife Investment Management LLC now owns 21,601 shares of the specialty retailer's stock worth $491,000 after purchasing an additional 994 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in ODP by 38.3% during the fourth 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 in the last quarter. Northern Trust Corp boosted its position in ODP by 13.0% during the fourth quarter. Northern Trust Corp now owns 600,027 shares of the specialty retailer's stock worth $13,645,000 after purchasing an additional 69,198 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in ODP by 51.8% during the fourth quarter. Jane Street Group LLC now owns 291,768 shares of the specialty retailer's stock worth $6,635,000 after purchasing an additional 99,584 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company's stock.

Wall Street Analysts Forecast Growth

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

ODP Price Performance

Shares of NASDAQ ODP traded down $0.04 during midday trading on Thursday, hitting $21.12. The stock had a trading volume of 88,072 shares, compared to its average volume of 593,562. The company has a market capitalization of $635.29 million, a PE ratio of 32.01, a P/E/G ratio of 0.50 and a beta of 1.40. The stock has a 50 day simple moving average of $19.15 and a 200-day simple moving average of $16.88. The ODP Corporation has a 1 year low of $11.85 and a 1 year 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.

ODP (NASDAQ:ODP - Get Free Report) last released its earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.18. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.The business's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. On average, sell-side analysts expect 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.