Texas Permanent School Fund Corp Acquires 4,393 Shares of The ODP Co. (NASDAQ:ODP)

Texas Permanent School Fund Corp grew its holdings in The ODP Co. (NASDAQ:ODP) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,507 shares of the specialty retailer’s stock after acquiring an additional 4,393 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of ODP worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Arizona State Retirement System raised its stake in ODP by 10.9% during the second quarter. Arizona State Retirement System now owns 10,251 shares of the specialty retailer’s stock worth $403,000 after acquiring an additional 1,006 shares in the last quarter. Victory Capital Management Inc. raised its position in ODP by 121.1% in the 2nd quarter. Victory Capital Management Inc. now owns 51,501 shares of the specialty retailer’s stock valued at $2,022,000 after buying an additional 28,210 shares during the last quarter. Rhumbline Advisers increased its position in shares of ODP by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 109,855 shares of the specialty retailer’s stock worth $4,314,000 after purchasing an additional 1,000 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of ODP during the 2nd quarter worth approximately $164,000. Finally, Innealta Capital LLC bought a new position in shares of ODP during the 2nd quarter worth approximately $68,000. 99.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Wendy Lee Schoppert acquired 3,875 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $25.77 per share, with a total value of $99,858.75. Following the completion of the purchase, the director now directly owns 3,875 shares in the company, valued at approximately $99,858.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

ODP Stock Performance

NASDAQ:ODP opened at $29.74 on Friday. The stock has a fifty day moving average price of $33.21 and a 200-day moving average price of $41.17. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.43 and a current ratio of 0.90. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities analysts anticipate that The ODP Co. will post 4.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on ODP. UBS Group reduced their target price on ODP from $53.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded ODP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

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.