Franklin Resources Inc. Trims Stake in The ODP Co. (NASDAQ:ODP)

Franklin Resources Inc. lessened its holdings in The ODP Co. (NASDAQ:ODP) by 5.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,296 shares of the specialty retailer’s stock after selling 5,663 shares during the period. Franklin Resources Inc. owned 0.32% of ODP worth $2,933,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP grew its stake in ODP by 170.3% in the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after buying an additional 688 shares in the last quarter. KBC Group NV grew its position in ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 868 shares in the last quarter. Innealta Capital LLC bought a new position in ODP in the second quarter valued at $68,000. SG Americas Securities LLC purchased a new stake in ODP during the third quarter valued at about $104,000. Finally, Picton Mahoney Asset Management bought a new stake in ODP during the second quarter worth about $164,000. Institutional investors own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ODP shares. UBS Group decreased their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

ODP Trading Down 0.7 %

NASDAQ ODP opened at $24.06 on Thursday. The stock has a 50-day moving average of $27.57 and a 200-day moving average of $31.67. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The ODP Co. has a 1-year low of $23.69 and a 1-year high of $58.98. The firm has a market cap of $724.64 million, a PE ratio of -26.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, sell-side analysts forecast that The ODP Co. will post 3.26 EPS for the current 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.