Healthcare of Ontario Pension Plan Trust Fund Buys New Position in The ODP Co. (NASDAQ:ODP)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of The ODP Co. (NASDAQ:ODP) in the second quarter, Holdings Channel reports. The firm bought 29,300 shares of the specialty retailer’s stock, valued at approximately $1,151,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Greenlight Capital Inc. boosted its stake in shares of ODP by 8.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock valued at $98,418,000 after buying an additional 133,750 shares during the period. Vanguard Group Inc. boosted its stake in shares of ODP by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock valued at $211,273,000 after buying an additional 16,584 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of ODP by 15.7% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after buying an additional 164,020 shares during the period. Edgestream Partners L.P. purchased a new position in shares of ODP in the 1st quarter valued at about $1,706,000. Finally, Clearline Capital LP boosted its stake in shares of ODP by 108.7% in the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock valued at $4,904,000 after buying an additional 65,033 shares during the period. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ODP shares. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. UBS Group decreased 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.

Insiders Place Their Bets

In other news, Director Wendy Lee Schoppert purchased 3,875 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of $25.77 per share, with a total value of $99,858.75. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

ODP Price Performance

ODP stock opened at $30.72 on Tuesday. The business has a 50 day moving average price of $30.17 and a 200 day moving average price of $39.09. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.50 and a beta of 1.50. The ODP Co. has a fifty-two week low of $23.69 and a fifty-two week high of $58.98. The company has a quick ratio of 0.43, a current ratio of 0.90 and a debt-to-equity ratio of 0.19.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.64). The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ODP had a positive return on equity of 15.93% and a negative net margin of 0.34%. ODP’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. Equities research analysts anticipate that The ODP Co. will post 4.29 earnings per share for the current fiscal year.

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.