The ODP Corporation (NASDAQ:ODP) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in The ODP Corporation (NASDAQ:ODP) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,923 shares of the specialty retailer’s stock after acquiring an additional 3,735 shares during the quarter. Principal Financial Group Inc.’s holdings in ODP were worth $2,148,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ODP. Farther Finance Advisors LLC raised its holdings in shares of ODP by 265,600.0% during the first quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 2,656 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of ODP by 38.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock worth $98,000 after buying an additional 1,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ODP in the 4th quarter worth about $143,000. KLP Kapitalforvaltning AS bought a new position in shares of ODP in the 4th quarter worth about $150,000. Finally, GAMMA Investing LLC lifted its position in shares of ODP by 169.0% in the 1st quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer’s stock worth $150,000 after buying an additional 6,557 shares during the last quarter. Institutional investors and hedge funds own 99.56% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded ODP from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd.

ODP Price Performance

Shares of NASDAQ ODP opened at $17.42 on Friday. The ODP Corporation has a fifty-two week low of $11.85 and a fifty-two week high of $43.31. The firm’s 50-day simple moving average is $17.71 and its 200 day simple moving average is $17.56. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. The stock has a market cap of $523.99 million, a P/E ratio of -12.53, a P/E/G ratio of 0.43 and a beta of 1.34.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.41. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. ODP had a positive return on equity of 11.50% and a negative net margin of 0.69%. ODP’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. Equities analysts expect that The ODP Corporation will post 3.26 EPS for the current year.

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.