Kestrel Investment Management Corp Has $5.42 Million Stake in The ODP Co. (NASDAQ:ODP)

Kestrel Investment Management Corp cut its stake in The ODP Co. (NASDAQ:ODP) by 15.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 96,300 shares of the specialty retailer’s stock after selling 17,700 shares during the quarter. ODP comprises approximately 3.7% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 8th biggest position. Kestrel Investment Management Corp’s holdings in ODP were worth $5,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ODP. CX Institutional raised its stake in ODP by 0.3% during the 4th quarter. CX Institutional now owns 69,795 shares of the specialty retailer’s stock worth $3,929,000 after buying an additional 204 shares during the period. PNC Financial Services Group Inc. boosted its stake in ODP by 9.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock worth $139,000 after purchasing an additional 270 shares during the period. Sei Investments Co. raised its holdings in shares of ODP by 4.5% in the 2nd quarter. Sei Investments Co. now owns 6,457 shares of the specialty retailer’s stock valued at $302,000 after acquiring an additional 278 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of ODP by 10.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,501 shares of the specialty retailer’s stock valued at $164,000 after buying an additional 325 shares in the last quarter. Finally, Gladius Capital Management LP grew its position in ODP by 94.6% during the 3rd quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 99.56% of the company’s stock.

Analyst Ratings Changes

ODP has been the subject of several recent analyst reports. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. TheStreet lowered 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Buying and Selling at ODP

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

ODP Stock Performance

Shares of ODP traded up $0.90 during mid-day trading on Friday, reaching $50.28. 238,371 shares of the company’s stock traded hands, compared to its average volume of 308,234. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.54 and a current ratio of 0.99. The stock has a market capitalization of $1.84 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.63 and a beta of 1.62. The business’s 50-day moving average price is $51.99 and its 200-day moving average price is $50.15. The ODP Co. has a 12 month low of $39.36 and a 12 month high of $58.98.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, beating the consensus estimate of $0.76 by $0.16. ODP had a return on equity of 19.45% and a net margin of 1.77%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. ODP’s quarterly revenue was down 14.2% on a year-over-year basis. Equities analysts predict that The ODP Co. will post 5.71 earnings per share for the current year.

ODP announced that its board has approved a stock buyback plan on Wednesday, February 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the specialty retailer to buy up to 48.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

ODP Company 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.