Maryland State Retirement & Pension System Decreases Stake in The ODP Co. (NASDAQ:ODP)

Maryland State Retirement & Pension System cut its position in shares of The ODP Co. (NASDAQ:ODP) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,143 shares of the specialty retailer’s stock after selling 995 shares during the period. Maryland State Retirement & Pension System’s holdings in ODP were worth $231,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of ODP by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock valued at $4,713,000 after buying an additional 459 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in ODP by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer’s stock valued at $2,458,000 after purchasing an additional 790 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of ODP by 1.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 71,224 shares of the specialty retailer’s stock valued at $2,119,000 after purchasing an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ODP by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 1,049 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in shares of ODP by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 82,784 shares of the specialty retailer’s stock valued at $1,883,000 after purchasing an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

ODP Stock Up 1.7 %

Shares of NASDAQ ODP opened at $14.65 on Wednesday. The ODP Co. has a 1 year low of $13.44 and a 1 year high of $53.56. The firm has a 50-day simple moving average of $19.12 and a two-hundred day simple moving average of $24.50. The company has a market cap of $436.82 million, a P/E ratio of -16.10, a PEG ratio of 0.30 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.

ODP (NASDAQ:ODP) last issued 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 business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Research analysts anticipate that The ODP Co. will post 3.26 earnings per share 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.