XTX Topco Ltd Reduces Holdings in The ODP Corporation $ODP

XTX Topco Ltd reduced its position in The ODP Corporation (NASDAQ:ODP) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,354 shares of the specialty retailer’s stock after selling 6,890 shares during the quarter. XTX Topco Ltd owned about 0.17% of ODP worth $913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its stake in shares of ODP by 375.6% in the first quarter. Mackenzie Financial Corp now owns 65,758 shares of the specialty retailer’s stock worth $942,000 after buying an additional 51,933 shares in the last quarter. Federated Hermes Inc. raised its holdings in ODP by 7,849.9% in the 1st quarter. Federated Hermes Inc. now owns 319,427 shares of the specialty retailer’s stock valued at $4,577,000 after acquiring an additional 315,409 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ODP by 9.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 539,473 shares of the specialty retailer’s stock worth $7,731,000 after purchasing an additional 47,886 shares in the last quarter. Headlands Technologies LLC purchased a new position in ODP in the 1st quarter worth approximately $47,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ODP during the 1st quarter worth approximately $706,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ODP. Noble Financial cut ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. UBS Group upped their target price on ODP from $19.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ODP in a report on Tuesday, November 25th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ODP has a consensus rating of “Reduce” and an average target price of $28.00.

ODP Price Performance

NASDAQ:ODP opened at $27.97 on Monday. The ODP Corporation has a 52 week low of $11.85 and a 52 week high of $28.83. The stock’s fifty day moving average is $27.84 and its two-hundred day moving average is $21.96. The company has a market capitalization of $842.40 million, a P/E ratio of 42.38, a P/E/G ratio of 0.69 and a beta of 1.43. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30.

ODP (NASDAQ:ODP) last issued its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.32. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.67 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period last year, the company earned $1.75 EPS. Equities analysts expect that The ODP Corporation will post 3.26 EPS for the current year.

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.