Charles Schwab Investment Management Inc. Has $7.73 Million Position in The ODP Corporation $ODP

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in The ODP Corporation by 9.7% during Q1, owning approximately 1.81% of ODP worth $7.73 million.
• The ODP Corporation reported an earnings per share (EPS) of $0.51 for its latest quarter, surpassing analysts' expectations despite a year-over-year revenue decline of 7.6%.
• ODP shares have received mixed analyst ratings, with a consensus price target of $19.00 and a recent downgrade from "buy" to "hold" by Wall Street Zen.

Charles Schwab Investment Management Inc. raised its holdings in The ODP Corporation (NASDAQ:ODP - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 539,473 shares of the specialty retailer's stock after purchasing an additional 47,886 shares during the period. Charles Schwab Investment Management Inc. owned about 1.81% of ODP worth $7,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN lifted its position in ODP by 16.2% during 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 in the last quarter. MetLife Investment Management LLC lifted 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 buying an additional 994 shares in the last quarter. Tower Research Capital LLC TRC raised its position in ODP by 38.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after purchasing an additional 1,198 shares during the period. Northern Trust Corp increased its position in shares of ODP by 13.0% during the 4th 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 during the last quarter. Finally, Atlas FRM LLC acquired a new stake in shares of ODP during the 4th quarter worth about $17,856,000. Hedge funds and other institutional investors own 99.56% of the company's stock.

Wall Street Analyst Weigh In

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

ODP Stock Down 2.2%

Shares of NASDAQ ODP traded down $0.45 during midday trading on Friday, reaching $20.26. 346,209 shares of the company's stock were exchanged, compared to its average volume of 485,666. The ODP Corporation has a 52-week low of $11.85 and a 52-week high of $32.21. The stock has a market capitalization of $609.42 million, a PE ratio of 30.70, a price-to-earnings-growth ratio of 0.50 and a beta of 1.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.94. The business's fifty day moving average price is $18.96 and its two-hundred day moving average price is $16.84.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.ODP's quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. Analysts forecast 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.