The ODP Co. (NASDAQ:ODP) Holdings Lowered by EMC Capital Management

EMC Capital Management cut its stake in The ODP Co. (NASDAQ:ODP) by 70.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,030 shares of the specialty retailer’s stock after selling 14,483 shares during the period. EMC Capital Management’s holdings in ODP were worth $137,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its position in shares of ODP by 5.0% during the 3rd quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock valued at $45,896,000 after purchasing an additional 74,015 shares during the period. Geode Capital Management LLC boosted its stake in ODP by 0.4% during the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after buying an additional 3,041 shares in the last quarter. Weiss Asset Management LP grew its holdings in ODP by 2,219.3% during the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock worth $16,992,000 after acquiring an additional 546,525 shares during the period. Charles Schwab Investment Management Inc. raised its position in ODP by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after acquiring an additional 58,062 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in ODP by 31.1% in the 3rd quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock valued at $5,717,000 after acquiring an additional 45,627 shares during the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Trading Down 0.6 %

NASDAQ ODP opened at $23.39 on Friday. The ODP Co. has a 1 year low of $21.52 and a 1 year high of $58.13. The stock’s 50-day moving average price is $24.60 and its two-hundred day moving average price is $28.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, equities research analysts expect that The ODP Co. will post 3.26 EPS for the current year.

Wall Street Analysts Forecast Growth

ODP has been the topic of several recent research reports. UBS Group lowered their price objective on shares of ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com downgraded ODP from a “buy” rating to a “hold” rating in a research report on Friday.

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.