LSV Asset Management Sells 51,013 Shares of The ODP Co. (NASDAQ:ODP)

LSV Asset Management cut its stake in shares of The ODP Co. (NASDAQ:ODP - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,815,080 shares of the specialty retailer's stock after selling 51,013 shares during the period. LSV Asset Management owned approximately 4.86% of ODP worth $102,189,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ODP. Pacer Advisors Inc. raised its position in shares of ODP by 49.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,481,692 shares of the specialty retailer's stock valued at $83,419,000 after purchasing an additional 493,233 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of ODP in the 3rd quarter valued at approximately $3,396,000. Allspring Global Investments Holdings LLC increased its holdings in shares of ODP by 169.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 89,269 shares of the specialty retailer's stock valued at $5,026,000 after acquiring an additional 56,080 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ODP by 11.7% in the 3rd quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer's stock valued at $24,212,000 after acquiring an additional 54,836 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of ODP by 93.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 50,475 shares of the specialty retailer's stock valued at $2,329,000 after acquiring an additional 24,318 shares during the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Diego Anthony Scaglione sold 25,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $55.00, for a total value of $1,375,000.00. Following the completion of the sale, the chief financial officer now directly owns 96,104 shares of the company's stock, valued at approximately $5,285,720. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ODP. StockNews.com upgraded ODP from a "hold" rating to a "buy" rating in a report on Tuesday, March 12th. TheStreet downgraded ODP from a "b-" rating to a "c+" rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.00.

ODP Stock Performance

ODP traded up $0.83 during trading on Friday, reaching $51.74. 250,177 shares of the company were exchanged, compared to its average volume of 292,388. The stock has a market cap of $1.89 billion, a P/E ratio of 15.31, a PEG ratio of 0.64 and a beta of 1.68. The firm has a 50 day moving average of $51.62 and a 200 day moving average of $50.55. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.15. The ODP Co. has a 52 week low of $39.36 and a 52 week high of $58.98.

ODP (NASDAQ:ODP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.16. ODP had a return on equity of 19.45% and a net margin of 1.77%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm's revenue was down 14.2% on a year-over-year basis. On average, sell-side analysts forecast that The ODP Co. will post 5.64 EPS for the current fiscal year.

ODP announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the specialty retailer to reacquire up to 48.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.