Franklin Resources Inc. Buys 36,414 Shares of The ODP Corporation $ODP

Franklin Resources Inc. increased its stake in The ODP Corporation (NASDAQ:ODP) by 157.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,472 shares of the specialty retailer’s stock after acquiring an additional 36,414 shares during the period. Franklin Resources Inc. owned about 0.20% of ODP worth $1,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ODP. Hillsdale Investment Management Inc. purchased a new stake in ODP during the 2nd quarter valued at $4,264,000. Empowered Funds LLC boosted its holdings in shares of ODP by 3.3% during the second quarter. Empowered Funds LLC now owns 208,841 shares of the specialty retailer’s stock worth $3,786,000 after purchasing an additional 6,730 shares during the period. LSV Asset Management grew its stake in shares of ODP by 1.0% in the second quarter. LSV Asset Management now owns 1,423,757 shares of the specialty retailer’s stock worth $25,813,000 after purchasing an additional 13,729 shares during the last quarter. Creative Planning increased its holdings in ODP by 30.4% during the 2nd quarter. Creative Planning now owns 19,994 shares of the specialty retailer’s stock valued at $362,000 after purchasing an additional 4,656 shares during the period. Finally, SG Americas Securities LLC raised its position in ODP by 14.2% during the 2nd quarter. SG Americas Securities LLC now owns 23,318 shares of the specialty retailer’s stock valued at $423,000 after purchasing an additional 2,903 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors.

ODP Stock Up 0.0%

NASDAQ:ODP opened at $27.98 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.45. The firm’s 50-day moving average price is $27.85 and its 200-day moving average price is $22.29. The company has a market capitalization of $842.76 million, a PE ratio of -79.94, a P/E/G ratio of 0.62 and a beta of 1.15. The ODP Corporation has a 1-year low of $11.85 and a 1-year high of $28.83.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 EPS for the quarter, topping the consensus estimate of $0.82 by $0.32. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.67 billion. ODP had a negative net margin of 0.14% and a positive return on equity of 12.84%. During the same quarter in the previous year, the firm posted $1.75 earnings per share. ODP’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities analysts predict that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ODP. UBS Group lifted their price target on shares of ODP from $19.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Noble Financial lowered shares of ODP from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ODP in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $28.00.

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.