Public Sector Pension Investment Board Has $1.37 Million Holdings in The ODP Corporation $ODP

Key Points

• The Public Sector Pension Investment Board increased its stake in The ODP Corporation by 27.3%, now owning 95,500 shares worth approximately $1.37 million.
• ODP reported $0.51 earnings per share in its latest quarterly results, surpassing analyst expectations, despite a 7.6% year-over-year revenue decline.
• UBS Group raised its target price for ODP shares from $17.00 to $19.00, maintaining a "neutral" rating, while the average target price across analysts is also $19.00.

Public Sector Pension Investment Board grew its stake in The ODP Corporation (NASDAQ:ODP - Free Report) by 27.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,500 shares of the specialty retailer's stock after acquiring an additional 20,501 shares during the period. Public Sector Pension Investment Board owned 0.32% of ODP worth $1,369,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ODP. Farther Finance Advisors LLC grew its holdings in shares of ODP by 265,600.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock valued at $37,000 after acquiring an additional 2,656 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of ODP in the 1st quarter valued at about $47,000. Tower Research Capital LLC TRC grew its holdings in shares of ODP by 38.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after acquiring an additional 1,198 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ODP in the 4th quarter valued at about $143,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of ODP in the 1st quarter valued at about $143,000. Institutional investors own 99.56% of the company's stock.

Analyst Upgrades and Downgrades

ODP has been the subject of several analyst reports. UBS Group raised their price objective on ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen cut 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, According to MarketBeat.com, ODP has a consensus rating of "Hold" and an average target price of $19.00.

ODP Stock Performance

Shares of ODP stock traded up $1.10 on Wednesday, hitting $21.25. The stock had a trading volume of 377,178 shares, compared to its average volume of 497,689. The stock has a market cap of $639.20 million, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 0.50 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The ODP Corporation has a twelve month low of $11.85 and a twelve month high of $32.21. The business's 50 day moving average is $18.80 and its two-hundred day moving average is $16.86.

ODP (NASDAQ:ODP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. The firm had revenue of $1.59 billion for 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%.The company's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. 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.