CX Institutional Purchases 5,327 Shares of The ODP Co. (NASDAQ:ODP)

CX Institutional increased its holdings in The ODP Co. (NASDAQ:ODP) by 9.8% in the second quarter, HoldingsChannel.com reports. The fund owned 59,736 shares of the specialty retailer’s stock after acquiring an additional 5,327 shares during the period. CX Institutional’s holdings in ODP were worth $2,346,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Greenlight Capital Inc. raised its holdings in ODP by 8.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock worth $98,418,000 after acquiring an additional 133,750 shares during the last quarter. Vanguard Group Inc. raised its position in ODP by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock worth $211,273,000 after buying an additional 16,584 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in ODP by 15.7% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after acquiring an additional 164,020 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of ODP during the 1st quarter valued at about $1,706,000. Finally, Russell Investments Group Ltd. lifted its position in ODP by 9.0% during the fourth quarter. Russell Investments Group Ltd. now owns 35,503 shares of the specialty retailer’s stock valued at $1,999,000 after purchasing an additional 2,920 shares during the period. 99.56% of the stock is owned by institutional investors.

ODP Trading Down 1.6 %

Shares of ODP traded down $0.43 during midday trading on Friday, hitting $25.73. The stock had a trading volume of 42,557 shares, compared to its average volume of 417,265. The stock’s 50 day moving average is $39.10 and its 200 day moving average is $46.11. The firm has a market cap of $923.58 million, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.45 and a beta of 1.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.49. The ODP Co. has a 1 year low of $23.69 and a 1 year high of $58.98.

ODP (NASDAQ:ODP) last announced its earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ODP had a net margin of 1.08% and a return on equity of 16.67%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. As a group, analysts forecast that The ODP Co. will post 6.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ODP. StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group cut their target price on ODP from $53.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

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.