Bank of New York Mellon Corp Lowers Stock Position in The ODP Co. (NASDAQ:ODP)

Bank of New York Mellon Corp lessened its position in shares of The ODP Co. (NASDAQ:ODP) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,251 shares of the specialty retailer’s stock after selling 54,601 shares during the quarter. Bank of New York Mellon Corp’s holdings in ODP were worth $5,145,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Weiss Asset Management LP increased its stake in ODP by 2,219.3% during the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock valued at $16,992,000 after purchasing an additional 546,525 shares in the last quarter. Mork Capital Management LLC increased its stake in shares of ODP by 150.0% in the third quarter. Mork Capital Management LLC now owns 125,000 shares of the specialty retailer’s stock worth $3,719,000 after acquiring an additional 75,000 shares during the period. State Street Corp increased its stake in shares of ODP by 5.0% in the third quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock worth $45,896,000 after acquiring an additional 74,015 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ODP by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after acquiring an additional 58,062 shares during the period. Finally, Barclays PLC increased its stake in shares of ODP by 114.3% in the third quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after acquiring an additional 53,160 shares during the period. Institutional investors own 99.56% of the company’s stock.

ODP Stock Performance

Shares of NASDAQ ODP opened at $15.87 on Tuesday. The company’s fifty day moving average price is $20.09 and its 200 day moving average price is $25.12. The ODP Co. has a 1 year low of $13.44 and a 1 year high of $53.56. The company has a market capitalization of $473.20 million, a PE ratio of -17.44, a price-to-earnings-growth ratio of 0.30 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

ODP (NASDAQ:ODP) last announced its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. On average, research analysts predict that The ODP Co. will post 3.26 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of ODP from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

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.