Geode Capital Management LLC Buys 19,895 Shares of Veritiv Corporation (VRTV)
Geode Capital Management LLC increased its position in Veritiv Corporation (NYSE:VRTV) by 27.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,120 shares of the basic materials company’s stock after buying an additional 19,895 shares during the period. Geode Capital Management LLC’s holdings in Veritiv Corporation were worth $4,823,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Veritiv Corporation by 28.1% in the first quarter. Vanguard Group Inc. now owns 582,988 shares of the basic materials company’s stock worth $30,199,000 after buying an additional 127,926 shares during the period. Menta Capital LLC raised its position in Veritiv Corporation by 27.6% in the first quarter. Menta Capital LLC now owns 49,055 shares of the basic materials company’s stock worth $2,541,000 after buying an additional 10,600 shares during the period. Marshall Wace North America L.P. bought a new position in Veritiv Corporation during the first quarter worth approximately $1,652,000. MARSHALL WACE ASIA Ltd bought a new position in Veritiv Corporation during the first quarter worth approximately $1,652,000. Finally, Monashee Investment Management LLC bought a new position in Veritiv Corporation during the first quarter worth approximately $3,885,000. Hedge funds and other institutional investors own 89.50% of the company’s stock.
Shares of Veritiv Corporation (VRTV) traded up 0.17% during trading on Monday, hitting $28.85. The stock had a trading volume of 15,807 shares. Veritiv Corporation has a 1-year low of $27.40 and a 1-year high of $62.60. The firm’s 50 day moving average is $38.99 and its 200 day moving average is $47.32. The company’s market cap is $452.94 million.
Veritiv Corporation (NYSE:VRTV) last released its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.32. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The company’s revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Veritiv Corporation will post $1.45 EPS for the current fiscal year.
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VRTV has been the topic of several recent analyst reports. SunTrust Banks, Inc. upgraded Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research upgraded Veritiv Corporation from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. William Blair lowered Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 9th. Bank of America Corporation lowered Veritiv Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the company from $64.00 to $36.00 in a research note on Thursday, August 3rd. Finally, Wells Fargo & Company upgraded Veritiv Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 18th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.60.
About Veritiv Corporation
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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