Toronto Dominion Bank Takes $7.15 Million Position in The ODP Co. (NASDAQ:ODP)

Toronto Dominion Bank acquired a new stake in The ODP Co. (NASDAQ:ODP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 314,368 shares of the specialty retailer’s stock, valued at approximately $7,149,000. Toronto Dominion Bank owned approximately 1.04% of ODP at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in ODP by 2.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 28,189 shares of the specialty retailer’s stock worth $641,000 after acquiring an additional 568 shares in the last quarter. MetLife Investment Management LLC increased its stake in ODP by 4.8% in the fourth quarter. MetLife Investment Management LLC now owns 21,601 shares of the specialty retailer’s stock valued at $491,000 after purchasing an additional 994 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of ODP by 38.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock valued at $98,000 after buying an additional 1,198 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of ODP by 17.6% during the fourth quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock worth $258,000 after buying an additional 1,700 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of ODP by 34.9% during the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer’s stock worth $223,000 after buying an additional 2,536 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded ODP from a “hold” rating to a “buy” rating in a research note on Friday, May 9th.

ODP Stock Performance

Shares of ODP opened at $16.33 on Friday. The stock has a market capitalization of $491.24 million, a P/E ratio of -17.95, a P/E/G ratio of 0.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The ODP Co. has a 1 year low of $11.85 and a 1 year high of $43.31. The company’s fifty day moving average is $14.65 and its two-hundred day moving average is $19.47.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.41. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, sell-side analysts predict that The ODP Co. will post 3.26 earnings per share for the current year.

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.