American Century Companies Inc. Has $14.74 Million Position 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. raised its position in The ODP Corporation (NASDAQ:ODP - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,028,782 shares of the specialty retailer's stock after purchasing an additional 15,560 shares during the period. American Century Companies Inc. owned approximately 3.42% of ODP worth $14,742,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Atlas FRM LLC acquired a new stake in shares of ODP in the fourth quarter valued at approximately $17,856,000. D. E. Shaw & Co. Inc. boosted its position in shares of ODP by 105.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer's stock valued at $17,921,000 after acquiring an additional 404,041 shares during the period. Federated Hermes Inc. boosted its position in shares of ODP by 7,849.9% in the first quarter. Federated Hermes Inc. now owns 319,427 shares of the specialty retailer's stock valued at $4,577,000 after acquiring an additional 315,409 shares during the period. Toronto Dominion Bank bought a new stake in shares of ODP in the fourth quarter valued at about $7,149,000. Finally, Findell Capital Management LLC bought a new stake in shares of ODP in the fourth quarter valued at about $5,571,000. 99.56% of the stock is currently owned by institutional investors and hedge funds.

ODP Price Performance

ODP traded down $0.45 on Friday, hitting $20.26. 346,209 shares of the stock were exchanged, compared to its average volume of 485,666. The ODP Corporation has a 12 month low of $11.85 and a 12 month high of $32.21. The business has a 50-day moving average of $18.96 and a two-hundred day moving average of $16.84. 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 firm has a market capitalization of $609.42 million, a price-to-earnings ratio of 30.70, a PEG ratio of 0.50 and a beta of 1.38.

ODP (NASDAQ:ODP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. The business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. ODP's revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. Sell-side analysts forecast that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.