KBC Group NV Grows Stock Position in The ODP Co. (NASDAQ:ODP)

KBC Group NV grew its position in shares of The ODP Co. (NASDAQ:ODP) by 88.9% during the third quarter, HoldingsChannel reports. The firm owned 1,844 shares of the specialty retailer’s stock after buying an additional 868 shares during the period. KBC Group NV’s holdings in ODP were worth $55,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in ODP by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock valued at $211,273,000 after purchasing an additional 16,584 shares in the last quarter. Clearline Capital LP grew its stake in shares of ODP by 108.7% during the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock valued at $4,904,000 after acquiring an additional 65,033 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of ODP by 106.3% during the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock valued at $12,966,000 after acquiring an additional 170,149 shares in the last quarter. Creative Planning purchased a new stake in shares of ODP during the third quarter worth about $690,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of ODP by 66.3% in the third quarter. Wedge Capital Management L L P NC now owns 46,068 shares of the specialty retailer’s stock worth $1,371,000 after acquiring an additional 18,363 shares in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ODP shares. UBS Group lowered their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th.

ODP Price Performance

ODP opened at $27.26 on Friday. The company has a market capitalization of $821.07 million, a P/E ratio of -29.96, a PEG ratio of 0.58 and a beta of 1.48. The company has a 50-day moving average of $29.25 and a 200-day moving average of $33.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The ODP Co. has a 1-year low of $23.69 and a 1-year high of $58.98.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. Equities analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal 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.