Public Employees Retirement System of Ohio Makes New $242,000 Investment in The ODP Corporation $ODP

Key Points

• The Public Employees Retirement System of Ohio has initiated a new investment of $242,000 in The ODP Corporation, acquiring 13,321 shares of the specialty retailer.
• Several institutional investors, including Two Sigma Investments and GAMMA Investing LLC, have also significantly increased their stakes in ODP in recent months.
• Analysts hold a consensus rating of "Reduce" for ODP stock, with an average target price of $19.00, as some firms have downgraded their ratings from "buy" to "hold."

Public Employees Retirement System of Ohio bought a new position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,321 shares of the specialty retailer's stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ODP. Two Sigma Investments LP bought a new stake in ODP during the 4th quarter worth approximately $620,000. GAMMA Investing LLC raised its stake in ODP by 3,755.3% during the 1st quarter. GAMMA Investing LLC now owns 149,548 shares of the specialty retailer's stock worth $2,143,000 after acquiring an additional 145,669 shares during the period. Farther Finance Advisors LLC raised its stake in ODP by 265,600.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 2,656 shares during the period. Harbor Capital Advisors Inc. raised its stake in ODP by 29.9% during the 1st quarter. Harbor Capital Advisors Inc. now owns 107,515 shares of the specialty retailer's stock worth $1,541,000 after acquiring an additional 24,731 shares during the period. Finally, Yousif Capital Management LLC grew its holdings in ODP by 7.8% during 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 in the last quarter. Institutional investors own 99.56% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ODP shares. UBS Group increased their price objective on shares of ODP from $17.00 to $19.00 and gave the company 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. Noble Financial lowered shares of ODP from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of ODP in a report on Saturday, September 27th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $19.00.

ODP Stock Down 0.5%

Shares of ODP opened at $27.72 on Tuesday. The company has a market cap of $833.82 million, a PE ratio of 42.00, a P/E/G ratio of 0.69 and a beta of 1.41. The business has a fifty day moving average of $21.90 and a 200 day moving average of $18.15. The ODP Corporation has a 52-week low of $11.85 and a 52-week 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 issued its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.18. The company had revenue of $1.59 billion during 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%.ODP's revenue was down 7.6% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. On average, sell-side analysts expect that The ODP Corporation 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.

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