Raymond James Financial Inc. Buys 314,958 Shares of Valvoline $VVV

Key Points

• Raymond James Financial Inc. increased its stake in Valvoline by 121.0%, holding about 0.45% of the company valued at $20.03 million by the end of the first quarter.
• Valvoline reported a quarterly earnings per share of $0.47, exceeding analyst expectations of $0.46, with revenue of $439 million for the quarter.
• Analysts have largely upgraded Valvoline's stock rating, with nine analysts rating it as Buy and raising price targets, including Goldman Sachs lifting their target from $40 to $45.

Raymond James Financial Inc. lifted its position in Valvoline (NYSE:VVV - Free Report) by 121.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 575,320 shares of the basic materials company's stock after buying an additional 314,958 shares during the quarter. Raymond James Financial Inc. owned about 0.45% of Valvoline worth $20,027,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in Valvoline by 1.3% in the 4th quarter. Cetera Investment Advisers now owns 21,425 shares of the basic materials company's stock valued at $775,000 after purchasing an additional 277 shares during the period. Isthmus Partners LLC boosted its stake in Valvoline by 4.2% in the 1st quarter. Isthmus Partners LLC now owns 9,544 shares of the basic materials company's stock valued at $332,000 after purchasing an additional 387 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Valvoline by 2.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,773 shares of the basic materials company's stock valued at $607,000 after purchasing an additional 409 shares during the period. ProShare Advisors LLC boosted its stake in Valvoline by 7.4% in the 4th quarter. ProShare Advisors LLC now owns 6,033 shares of the basic materials company's stock valued at $218,000 after purchasing an additional 416 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Valvoline by 2.0% in the 4th quarter. Captrust Financial Advisors now owns 22,124 shares of the basic materials company's stock valued at $800,000 after purchasing an additional 438 shares during the period. Institutional investors own 96.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on VVV. Piper Sandler restated an "overweight" rating and set a $44.00 price objective (down previously from $45.00) on shares of Valvoline in a research note on Friday, May 9th. The Goldman Sachs Group upgraded Valvoline from a "hold" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $45.00 in a research note on Tuesday, June 3rd. Cfra Research upgraded Valvoline to a "hold" rating in a research note on Monday, July 7th. Zacks Research upgraded Valvoline to a "hold" rating in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company raised their price objective on Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Valvoline has a consensus rating of "Moderate Buy" and a consensus price target of $42.31.

Valvoline Price Performance

Shares of NYSE VVV traded down $0.39 during midday trading on Friday, reaching $38.67. 1,527,090 shares of the company were exchanged, compared to its average volume of 1,664,197. The stock's 50-day moving average price is $37.89 and its 200-day moving average price is $36.16. The stock has a market cap of $4.92 billion, a P/E ratio of 17.99 and a beta of 1.17. Valvoline has a one year low of $31.01 and a one year high of $43.74. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 3.37.

Valvoline (NYSE:VVV - Get Free Report) last posted its earnings results on Wednesday, August 6th. The basic materials company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $439.00 million for the quarter, compared to analysts' expectations of $436.35 million. Valvoline had a net margin of 16.43% and a return on equity of 84.85%. The company's revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts anticipate that Valvoline will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In other Valvoline news, CFO J Kevin Willis purchased 12,725 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $39.41 per share, with a total value of $501,492.25. Following the completion of the purchase, the chief financial officer owned 12,725 shares of the company's stock, valued at approximately $501,492.25. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.66% of the company's stock.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.