The ODP Co. (NASDAQ:ODP) Stock Position Reduced by EMC Capital Management

EMC Capital Management decreased its stake in The ODP Co. (NASDAQ:ODP) by 70.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,030 shares of the specialty retailer’s stock after selling 14,483 shares during the quarter. EMC Capital Management’s holdings in ODP were worth $137,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Wedge Capital Management L L P NC grew its stake in shares of ODP by 8.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 49,960 shares of the specialty retailer’s stock valued at $1,136,000 after buying an additional 3,892 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in ODP by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 82,784 shares of the specialty retailer’s stock valued at $1,883,000 after acquiring an additional 1,240 shares during the last quarter. GAMMA Investing LLC grew its position in ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after acquiring an additional 3,071 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of ODP by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after purchasing an additional 459 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of ODP by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after purchasing an additional 3,041 shares during the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

ODP Price Performance

NASDAQ ODP opened at $23.39 on Friday. The ODP Co. has a 1 year low of $21.52 and a 1 year high of $58.13. The company has a fifty day simple moving average of $24.60 and a 200 day simple moving average of $28.88. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. On average, equities analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ODP. StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a report on Friday. UBS Group cut their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th.

ODP 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.