Kestrel Investment Management Corp Has $5.42 Million Stake in The ODP Co. (NASDAQ:ODP)

Kestrel Investment Management Corp trimmed its position in The ODP Co. (NASDAQ:ODP) by 15.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 96,300 shares of the specialty retailer’s stock after selling 17,700 shares during the period. ODP comprises 3.7% of Kestrel Investment Management Corp’s investment portfolio, making the stock its 8th biggest position. Kestrel Investment Management Corp owned approximately 0.26% of ODP worth $5,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ODP. CX Institutional boosted its position in ODP by 0.3% during the 4th quarter. CX Institutional now owns 69,795 shares of the specialty retailer’s stock valued at $3,929,000 after buying an additional 204 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of ODP by 9.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock worth $139,000 after acquiring an additional 270 shares during the period. Sei Investments Co. grew its stake in shares of ODP by 4.5% in the second quarter. Sei Investments Co. now owns 6,457 shares of the specialty retailer’s stock worth $302,000 after acquiring an additional 278 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of ODP by 10.2% in the second quarter. Point72 Asset Management L.P. now owns 3,501 shares of the specialty retailer’s stock worth $164,000 after buying an additional 325 shares during the last quarter. Finally, Gladius Capital Management LP boosted its holdings in shares of ODP by 94.6% in the third quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $33,000 after buying an additional 351 shares during the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $55.00, for a total value of $1,375,000.00. Following the completion of the sale, the chief financial officer now owns 96,104 shares of the company’s stock, valued at $5,285,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ODP. TheStreet cut shares of ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

ODP Trading Up 1.8 %

Shares of NASDAQ:ODP traded up $0.90 during midday trading on Friday, reaching $50.28. 238,371 shares of the company’s stock were exchanged, compared to its average volume of 308,234. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.99 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $51.99 and its two-hundred day simple moving average is $50.15. The ODP Co. has a fifty-two week low of $39.36 and a fifty-two week high of $58.98.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.16. ODP had a return on equity of 19.45% and a net margin of 1.77%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was down 14.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The ODP Co. will post 5.71 EPS for the current fiscal year.

ODP announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 48.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.