In yesterday’s Wall Street session, Veritiv Corporation (NYSE:VRTV) shares traded at $117.89, up 1.25% from the previous session.
VRTV stock price is now -7.23% away from the 50-day moving average and -5.32% away from the 200-day moving average. The market capitalization of the company currently stands at $1.58B.
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With the price target reduced from $23 to $16, BofA/Merrill Upgraded its rating from Neutral to Buy for Veritiv Corporation (NYSE: VRTV). On May 13, 2019, BofA/Merrill Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $37 to quote $26, while ‘Sidoti’ rates the stock as ‘Buy’.
In other news, Macadam Stephen E., Director bought 1,600 shares of the company’s stock on Mar 22. The stock was bought for $202,455 at an average price of $126.53. Upon completion of the transaction, the Director now directly owns 8,100 shares in the company, valued at $0.95 million. Insiders disposed of 89,070 shares of company stock worth roughly $10.5 million over the past 1 year. A total of 1.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VRTV stock. A new stake in Veritiv Corporation shares was purchased by MARSHALL WACE, LLP during the first quarter worth $4,189,000. TWO SIGMA INVESTMENTS, LP invested $2,438,000 in shares of VRTV during the first quarter. In the first quarter, D. E. SHAW & CO., INC. acquired a new stake in Veritiv Corporation valued at approximately $2,265,000. BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC acquired a new stake in VRTV for approximately $2,151,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in VRTV valued at around $741,000 in the second quarter. In total, there are 316 active investors with 99.30% ownership of the company’s stock.
Thursday morning saw Veritiv Corporation (NYSE: VRTV) opened at $117.00. During the past 12 months, Veritiv Corporation has had a low of $85.57 and a high of $161.10. As of last week, the company has a debt-to-equity ratio of 0.59, a current ratio of 2.00, and a quick ratio of 1.40. The fifty day moving average price for VRTV is $127.07 and a two-hundred day moving average price translates $124.51 for the stock.
The latest earnings results from Veritiv Corporation (NYSE: VRTV) was released for Jun, 2022. According to the Business Equipment & Supplies Company, earnings per share came in at $6.12, beating analysts’ expectations of $4.5 by 1.62. This compares to $2.54 EPS in the same period last year. The net profit margin was 4.40% and return on equity was 48.20% for VRTV. The company reported revenue of $1.8 billion for the quarter, compared to $1.77 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.05 percent. For the current quarter, analysts expect VRTV to generate $1.78B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/19/2022. Investors who held shares on 11/18/2022 were paid a $0.63 dividend. On an annualized basis, this represents a $2.52 dividend and a 2.14% percent yield. There was an ex-dividend date of 11/17/2022 for this dividend.
Veritiv Corporation(VRTV) Company Profile
Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing). The Packaging segment provides packaging product materials within flexible, corrugated and fiber, ancillary packaging, rigid, and equipment categories. The Facility Solutions segment sources and sells cleaning, break-room, and other supplies in various product categories that include towels and tissues, food service, personal protective equipment, cleaning chemicals, and skincare, as well as re-merchandising, budgeting and compliance reporting, and inventory management services. The Print segment sells and distributes commercial printing, writing, copying, digital, specialty products, and graphics consumables. The Publishing segment sells and distributes coated and uncoated commercial printing papers to publishers, retailers, converters, printers, and specialty businesses for use in magazines, catalogs, books, directories, gaming, couponing, retail inserts, and direct mail. This segment also provides print management, procurement, and supply chain management solutions. The company also provides transportation and warehousing solutions. It serves manufacturing, food and beverage, wholesale and retail, healthcare, transportation, property management, higher education, entertainment and hospitality, commercial printing, and publishing sectors. As of December 31, 2021, the company operated 115 distribution centers. Veritiv Corporation was incorporated in 2013 and is headquartered in Atlanta, Georgia.
