The ODP Co. (NASDAQ:ODP) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lessened its holdings in The ODP Co. (NASDAQ:ODP) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,317 shares of the specialty retailer’s stock after selling 1,516 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in ODP were worth $299,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP boosted its position in ODP by 94.6% in the 3rd quarter. Gladius Capital Management LP now owns 722 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 351 shares in the last quarter. Headlands Technologies LLC acquired a new stake in ODP during the third quarter valued at $34,000. GW Henssler & Associates Ltd. purchased a new position in ODP in the third quarter valued at $202,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of ODP in the third quarter worth about $207,000. Finally, EMC Capital Management boosted its stake in shares of ODP by 129.7% during the 3rd quarter. EMC Capital Management now owns 6,187 shares of the specialty retailer’s stock worth $286,000 after acquiring an additional 3,493 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

ODP Trading Down 1.3 %

ODP stock traded down $0.70 during midday trading on Wednesday, reaching $51.61. 68,758 shares of the stock traded hands, compared to its average volume of 306,532. The firm has a market cap of $1.89 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62. The ODP Co. has a 12-month low of $39.36 and a 12-month high of $58.98. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $51.90 and a two-hundred day simple moving average of $50.27.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, February 28th. The specialty retailer reported $0.92 EPS for the quarter, topping 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 analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The business’s revenue was down 14.2% compared to the same quarter last year. Research analysts expect that The ODP Co. will post 5.71 earnings per share for the current fiscal year.

ODP declared that its board has approved a stock buyback plan on Wednesday, February 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to purchase up to 48.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other ODP news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00. Following 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 can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ODP shares. TheStreet lowered 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 research report on Tuesday, March 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, ODP currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

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.