LSV Asset Management Has $25.81 Million Stock Position in The ODP Corporation $ODP

LSV Asset Management raised its stake in shares of The ODP Corporation (NASDAQ:ODP) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,423,757 shares of the specialty retailer’s stock after purchasing an additional 13,729 shares during the period. LSV Asset Management owned 4.73% of ODP worth $25,813,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Millennium Management LLC boosted its position in ODP by 673.7% during the first quarter. Millennium Management LLC now owns 698,169 shares of the specialty retailer’s stock valued at $10,005,000 after acquiring an additional 607,935 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of ODP during the 1st quarter valued at about $8,248,000. Federated Hermes Inc. grew its stake in ODP by 7,849.9% during the first quarter. Federated Hermes Inc. now owns 319,427 shares of the specialty retailer’s stock worth $4,577,000 after purchasing an additional 315,409 shares during the period. Allianz Asset Management GmbH grew its stake in ODP by 28.2% during the first quarter. Allianz Asset Management GmbH now owns 821,669 shares of the specialty retailer’s stock worth $11,775,000 after purchasing an additional 180,758 shares during the period. Finally, Invesco Ltd. increased its holdings in ODP by 25.4% in the first quarter. Invesco Ltd. now owns 706,511 shares of the specialty retailer’s stock worth $10,124,000 after purchasing an additional 143,291 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

ODP Stock Performance

NASDAQ ODP opened at $27.86 on Wednesday. The company has a market cap of $839.09 million, a P/E ratio of 42.21, a PEG ratio of 0.69 and a beta of 1.43. The company has a fifty day simple moving average of $26.75 and a 200 day simple moving average of $21.30. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The ODP Corporation has a 12-month low of $11.85 and a 12-month high of $28.83.

ODP (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.32. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.67 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The business’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. Sell-side analysts predict that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Noble Financial downgraded shares of ODP from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of ODP in a report on Thursday, November 13th. Finally, UBS Group lifted their price target on shares of ODP from $19.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $28.00.

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.