AREX Capital Management LP Boosts Position in The ODP Co. (NASDAQ:ODP)

AREX Capital Management LP boosted its position in shares of The ODP Co. (NASDAQ:ODP) by 9.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 163,500 shares of the specialty retailer’s stock after buying an additional 14,750 shares during the quarter. ODP makes up about 5.3% of AREX Capital Management LP’s portfolio, making the stock its 6th largest position. AREX Capital Management LP’s holdings in ODP were worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ODP. Barclays PLC boosted its position in shares of ODP by 114.3% in the 3rd quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after purchasing an additional 53,160 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in ODP by 0.3% during the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ODP by 380.1% during the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after buying an additional 3,071 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of ODP by 1.5% in the 4th 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. Finally, Wedge Capital Management L L P NC raised its position 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 acquiring an additional 3,892 shares during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

ODP Stock Performance

ODP stock opened at $14.15 on Friday. The ODP Co. has a 1-year low of $11.85 and a 1-year high of $52.60. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The firm has a market cap of $421.92 million, a PE ratio of -15.55, a P/E/G ratio of 0.30 and a beta of 1.45. The business’s 50-day moving average price is $14.24 and its two-hundred day moving average price is $21.28.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.14). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. As a group, research analysts forecast that The ODP Co. will post 3.26 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday.

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.