Scharf Investments LLC Sells 8,617 Shares of Valvoline (NYSE:VVV)

Scharf Investments LLC lowered its position in shares of Valvoline (NYSE:VVV - Free Report) by 20.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,276 shares of the basic materials company's stock after selling 8,617 shares during the quarter. Scharf Investments LLC's holdings in Valvoline were worth $1,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State of New Jersey Common Pension Fund D lifted its holdings in shares of Valvoline by 14.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 54,312 shares of the basic materials company's stock worth $1,965,000 after purchasing an additional 6,710 shares in the last quarter. Private Advisor Group LLC bought a new stake in Valvoline during the fourth quarter worth $223,000. South Dakota Investment Council raised its stake in shares of Valvoline by 157.4% during the 4th quarter. South Dakota Investment Council now owns 102,955 shares of the basic materials company's stock worth $3,725,000 after purchasing an additional 62,955 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Valvoline during the 4th quarter worth $632,000. Finally, VELA Investment Management LLC raised its position in Valvoline by 39.8% in the fourth quarter. VELA Investment Management LLC now owns 84,273 shares of the basic materials company's stock worth $3,049,000 after acquiring an additional 24,001 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VVV has been the topic of several recent research reports. Morgan Stanley dropped their price objective on shares of Valvoline from $41.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company decreased their price target on shares of Valvoline from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Citigroup reduced their price target on Valvoline from $41.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. TD Securities initiated coverage on shares of Valvoline in a research note on Friday, April 4th. They set a "buy" rating and a $40.00 target price on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $44.00 price target (down from $45.00) on shares of Valvoline in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.54.

Valvoline Stock Up 0.2%

Valvoline stock traded up $0.06 during mid-day trading on Thursday, hitting $37.04. The company had a trading volume of 1,353,873 shares, compared to its average volume of 1,501,691. The company has a current ratio of 0.73, a quick ratio of 0.60 and a debt-to-equity ratio of 4.23. The stock's 50 day moving average price is $35.12 and its two-hundred day moving average price is $35.83. Valvoline has a 12 month low of $31.02 and a 12 month high of $48.27. The company has a market capitalization of $4.71 billion, a PE ratio of 17.98 and a beta of 1.17.

Valvoline (NYSE:VVV - Get Free Report) last released its earnings results on Thursday, May 8th. The basic materials company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $403.20 million during the quarter, compared to the consensus estimate of $405.38 million. Valvoline had a return on equity of 106.36% and a net margin of 15.97%. The company's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. As a group, sell-side analysts anticipate that Valvoline will post 1.63 earnings per share for the current fiscal year.

Insider Transactions at Valvoline

In other Valvoline news, CEO Lori Ann Flees purchased 3,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of $33.78 per share, with a total value of $101,340.00. Following the completion of the acquisition, the chief executive officer now directly owns 46,614 shares in the company, valued at $1,574,620.92. This trade represents a 6.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

Valvoline Profile

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.