Norges Bank Makes New $2.59 Million Investment in The ODP Co. (NASDAQ:ODP)

Norges Bank acquired a new position in The ODP Co. (NASDAQ:ODP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 113,870 shares of the specialty retailer's stock, valued at approximately $2,589,000. Norges Bank owned about 0.38% of ODP at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in ODP by 380.1% in the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer's stock valued at $88,000 after buying an additional 3,071 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of ODP in the 4th quarter worth about $150,000. Inceptionr LLC acquired a new stake in ODP during the 4th quarter valued at $223,000. New York State Common Retirement Fund increased its holdings in shares of ODP by 17.6% in the fourth quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer's stock valued at $258,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Amundi boosted its stake in shares of ODP by 175.9% in the 4th quarter. Amundi now owns 16,474 shares of the specialty retailer's stock valued at $368,000 after purchasing an additional 10,504 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company's stock.

ODP Trading Up 0.6 %

Shares of NASDAQ:ODP traded up $0.07 during midday trading on Thursday, hitting $13.25. 152,064 shares of the stock were exchanged, compared to its average volume of 725,270. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The ODP Co. has a 12 month low of $11.85 and a 12 month high of $52.69. The business's 50-day moving average price is $15.71 and its 200 day moving average price is $22.68. The stock has a market capitalization of $395.18 million, a price-to-earnings ratio of -14.54, a P/E/G ratio of 0.30 and a beta of 1.45.

ODP (NASDAQ:ODP - Get Free Report) last issued its earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.14). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Analysts predict that The ODP Co. will post 3.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered ODP from a "buy" rating to a "hold" rating in a research report on Friday, February 28th.

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.