SG Americas Securities LLC Decreases Stock Position in The ODP Co. (NASDAQ:ODP)

SG Americas Securities LLC trimmed its holdings in shares of The ODP Co. (NASDAQ:ODP) by 42.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,533 shares of the specialty retailer’s stock after selling 27,471 shares during the period. SG Americas Securities LLC owned approximately 0.10% of ODP worth $2,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CX Institutional lifted its stake in ODP by 0.3% during the 4th quarter. CX Institutional now owns 69,795 shares of the specialty retailer’s stock valued at $3,929,000 after acquiring an additional 204 shares during the period. Gladius Capital Management LP lifted its position in ODP by 94.6% during the third quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 351 shares during the period. American Century Companies Inc. boosted its holdings in ODP by 11.7% in the third quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer’s stock worth $24,212,000 after purchasing an additional 54,836 shares during the last quarter. Deutsche Bank AG grew its position in ODP by 12.6% in the 3rd quarter. Deutsche Bank AG now owns 17,844 shares of the specialty retailer’s stock worth $824,000 after purchasing an additional 1,991 shares during the period. Finally, Comerica Bank bought a new stake in ODP in the 3rd quarter worth approximately $763,000. Institutional investors own 99.56% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Diego Anthony Scaglione sold 25,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $55.00, for a total transaction of $1,375,000.00. Following the sale, the chief financial officer now directly owns 96,104 shares in the company, valued at approximately $5,285,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.

ODP Trading Up 1.4 %

NASDAQ:ODP opened at $52.41 on Thursday. The ODP Co. has a one year low of $39.36 and a one year high of $58.98. The business has a fifty day moving average price of $52.32 and a 200-day moving average price of $49.64. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.54.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, topping the consensus estimate of $0.76 by $0.16. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. ODP had a return on equity of 19.45% and a net margin of 1.77%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Sell-side analysts forecast that The ODP Co. will post 5.71 EPS for the current year.

ODP declared that its board has approved a share buyback program on Wednesday, February 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 48.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ODP has been the topic of a number of research reports. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. TheStreet downgraded ODP from a “b-” rating to a “c+” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, ODP presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.