Royce & Associates LP Sells 92,323 Shares of The ODP Co. (NASDAQ:ODP)

Royce & Associates LP cut its position in The ODP Co. (NASDAQ:ODP) by 24.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 280,875 shares of the specialty retailer’s stock after selling 92,323 shares during the period. Royce & Associates LP’s holdings in ODP were worth $8,356,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its position in shares of ODP by 81.3% during the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 422 shares during the last quarter. Quarry LP grew its stake in ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 688 shares during the period. KBC Group NV grew its stake in ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 868 shares during the period. Innealta Capital LLC acquired a new stake in ODP in the second quarter valued at approximately $68,000. Finally, Gladius Capital Management LP grew its stake in ODP by 227.8% in the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after acquiring an additional 1,515 shares during the period. 99.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on ODP shares. UBS Group reduced their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th.

ODP Stock Performance

Shares of ODP stock opened at $25.18 on Monday. The business’s fifty day simple moving average is $29.47 and its 200 day simple moving average is $34.66. The firm has a market capitalization of $758.42 million, a P/E ratio of -27.67, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. The ODP Co. has a 12 month low of $23.69 and a 12 month high of $58.98. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). The business had revenue of $1.78 billion for 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 business’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 earnings per share. As a group, analysts anticipate that The ODP Co. will post 3.26 EPS for the current year.

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.