The ODP Co. (NASDAQ:ODP) Shares Sold by Mork Capital Management LLC

Mork Capital Management LLC lowered its position in shares of The ODP Co. (NASDAQ:ODP) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,000 shares of the specialty retailer’s stock after selling 50,000 shares during the period. ODP comprises about 1.1% of Mork Capital Management LLC’s holdings, making the stock its 20th largest position. Mork Capital Management LLC owned 0.25% of ODP worth $1,706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ODP. Barclays PLC increased its position in shares of ODP by 114.3% during the third quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after purchasing an additional 53,160 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in ODP by 8.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 49,960 shares of the specialty retailer’s stock worth $1,136,000 after acquiring an additional 3,892 shares during the period. Empowered Funds LLC grew its stake in shares of ODP by 5.1% in the 4th quarter. Empowered Funds LLC now owns 194,875 shares of the specialty retailer’s stock valued at $4,431,000 after purchasing an additional 9,448 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of ODP by 17.6% in the fourth quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock valued at $258,000 after purchasing an additional 1,700 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ODP by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 491,587 shares of the specialty retailer’s stock valued at $11,179,000 after purchasing an additional 10,137 shares during the period. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Trading Up 11.1%

NASDAQ:ODP opened at $19.08 on Tuesday. The firm has a market cap of $573.96 million, a P/E ratio of -20.97, a PEG ratio of 0.30 and a beta of 1.29. 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 stock’s 50 day simple moving average is $14.30 and its 200-day simple moving average is $20.51. The ODP Co. has a 12-month low of $11.85 and a 12-month high of $43.31.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.41. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Equities analysts anticipate that The ODP Co. will post 3.26 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised ODP from a “hold” rating to a “buy” rating in a report on Friday.

About ODP

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.