Hillsdale Investment Management Inc. Buys 3,900 Shares of The ODP Co. (NASDAQ:ODP)

Hillsdale Investment Management Inc. grew its stake in The ODP Co. (NASDAQ:ODP) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,334 shares of the specialty retailer’s stock after purchasing an additional 3,900 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.14% of ODP worth $2,670,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. CX Institutional lifted its holdings in ODP by 0.3% during the fourth quarter. CX Institutional now owns 69,795 shares of the specialty retailer’s stock worth $3,929,000 after acquiring an additional 204 shares during the period. SummerHaven Investment Management LLC lifted its holdings in ODP by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 15,247 shares of the specialty retailer’s stock worth $858,000 after acquiring an additional 213 shares during the period. Oliver Luxxe Assets LLC lifted its holdings in ODP by 1.5% during the first quarter. Oliver Luxxe Assets LLC now owns 22,070 shares of the specialty retailer’s stock worth $1,171,000 after acquiring an additional 334 shares during the period. ProShare Advisors LLC lifted its holdings in ODP by 5.7% during the first quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock worth $343,000 after acquiring an additional 348 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in ODP by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer’s stock worth $1,544,000 after acquiring an additional 375 shares during the period. Institutional investors own 99.56% of the company’s stock.

ODP Stock Performance

ODP stock traded up $1.28 during mid-day trading on Monday, reaching $42.11. 380,803 shares of the company’s stock were exchanged, compared to its average volume of 407,643. The business’s fifty day simple moving average is $39.40 and its 200 day simple moving average is $47.20. The firm has a market capitalization of $1.51 billion, a PE ratio of 20.34, a P/E/G ratio of 0.46 and a beta of 1.59. The ODP Co. has a one year low of $36.63 and a one year high of $58.98. The company has a quick ratio of 0.49, a current ratio of 0.94 and a debt-to-equity ratio of 0.11.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, May 8th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.59). ODP had a return on equity of 16.67% and a net margin of 1.08%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business earned $1.78 earnings per share. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, sell-side analysts expect that The ODP Co. will post 6.4 earnings per share for the current year.

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.