Zurcher Kantonalbank Zurich Cantonalbank Buys 6,142 Shares of The ODP Co. (NASDAQ:ODP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The ODP Co. (NASDAQ:ODP) by 87.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,201 shares of the specialty retailer’s stock after purchasing an additional 6,142 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ODP were worth $743,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP increased its position in ODP by 94.6% in the third quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $33,000 after buying an additional 351 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of ODP during the 3rd quarter worth $34,000. GW Henssler & Associates Ltd. purchased a new stake in ODP in the 3rd quarter worth about $202,000. Campbell & CO Investment Adviser LLC bought a new stake in ODP in the 3rd quarter valued at about $207,000. Finally, EMC Capital Management lifted its holdings in ODP by 129.7% during the third quarter. EMC Capital Management now owns 6,187 shares of the specialty retailer’s stock valued at $286,000 after purchasing an additional 3,493 shares during the last quarter. Institutional investors own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

ODP has been the topic of several research reports. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. TheStreet cut shares of ODP from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Activity at ODP

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by corporate insiders.

ODP Trading Up 0.8 %

Shares of ODP stock opened at $51.79 on Tuesday. The company’s 50-day moving average price is $51.71 and its 200-day moving average price is $50.45. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.15. The ODP Co. has a 12-month low of $39.36 and a 12-month high of $58.98. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.64 and a beta of 1.62.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.16. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.84 billion. ODP had a net margin of 1.77% and a return on equity of 19.45%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. On average, equities analysts expect that The ODP Co. will post 5.71 earnings per share for the current fiscal year.

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

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.