American Century Companies Inc. Raises Holdings in The ODP Corporation $ODP

Key Points

• American Century Companies Inc. increased its stake in The ODP Corporation by 1.5%, owning approximately 3.42% of the company, valued at $14.7 million as of their latest SEC filing.
• The ODP Corporation reported earnings of $0.51 per share for the last quarter, surpassing analysts' expectations, despite a 7.6% year-over-year decline in quarterly revenue.
• Analysts have mixed views on ODP, with UBS Group raising the price target to $19.00 while the consensus rating is currently a "Hold."

American Century Companies Inc. grew its position in shares of The ODP Corporation (NASDAQ:ODP - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,028,782 shares of the specialty retailer's stock after buying an additional 15,560 shares during the quarter. American Century Companies Inc. owned 3.42% of ODP worth $14,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Neuberger Berman Group LLC grew its holdings in shares of ODP by 2.1% during the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer's stock valued at $13,358,000 after buying an additional 19,552 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in ODP by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 95,500 shares of the specialty retailer's stock worth $1,369,000 after purchasing an additional 20,501 shares during the last quarter. Nuveen LLC purchased a new stake in ODP in the first quarter worth approximately $1,369,000. Invesco Ltd. boosted its holdings in ODP by 25.4% in the first quarter. Invesco Ltd. now owns 706,511 shares of the specialty retailer's stock worth $10,124,000 after purchasing an additional 143,291 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ODP in the first quarter worth approximately $706,000. Hedge funds and other institutional investors own 99.56% of the company's stock.

ODP Price Performance

Shares of ODP stock traded up $1.10 on Wednesday, hitting $21.25. 377,178 shares of the stock traded hands, compared to its average volume of 497,689. The firm has a market cap of $639.20 million, a price-to-earnings ratio of 32.20, a PEG ratio of 0.50 and a beta of 1.38. The ODP Corporation has a 52 week low of $11.85 and a 52 week high of $32.21. The firm has a 50 day simple moving average of $18.80 and a two-hundred day simple moving average of $16.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.45.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. The company 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%. ODP's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 EPS. As a group, equities research analysts predict that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price 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 cut 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, Based on data from MarketBeat, ODP currently has an average rating of "Hold" and a consensus price target of $19.00.

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.