Maverick Capital Ltd. Purchases 43,093 Shares of Valvoline $VVV

Key Points

• Maverick Capital Ltd. increased its holdings in Valvoline shares by 58.7%, owning 116,466 shares valued at approximately $4.05 million.
• Valvoline reported a quarterly earnings per share of $0.47, surpassing analysts' expectations and showing a 4.2% year-over-year revenue increase.
• Currently, 96.13% of Valvoline's stock is owned by institutional investors and hedge funds, reflecting strong institutional interest in the company.

Maverick Capital Ltd. boosted its stake in shares of Valvoline (NYSE:VVV - Free Report) by 58.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,466 shares of the basic materials company's stock after acquiring an additional 43,093 shares during the quarter. Maverick Capital Ltd. owned approximately 0.09% of Valvoline worth $4,054,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Valvoline by 298.5% during the 1st quarter. Royal Bank of Canada now owns 253,447 shares of the basic materials company's stock valued at $8,822,000 after purchasing an additional 189,842 shares during the period. Quarry LP lifted its position in Valvoline by 27.1% during the 1st quarter. Quarry LP now owns 3,973 shares of the basic materials company's stock valued at $138,000 after purchasing an additional 848 shares during the period. Baird Financial Group Inc. lifted its position in Valvoline by 8.9% during the 1st quarter. Baird Financial Group Inc. now owns 23,722 shares of the basic materials company's stock valued at $826,000 after purchasing an additional 1,931 shares during the period. Landscape Capital Management L.L.C. lifted its position in Valvoline by 104.8% during the 1st quarter. Landscape Capital Management L.L.C. now owns 131,785 shares of the basic materials company's stock valued at $4,587,000 after purchasing an additional 67,448 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in Valvoline by 23.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,191,872 shares of the basic materials company's stock valued at $41,489,000 after purchasing an additional 223,073 shares during the period. Institutional investors own 96.13% of the company's stock.

Insider Activity

In other Valvoline news, CFO J Kevin Willis acquired 12,725 shares of the stock in a transaction dated Thursday, August 14th. The shares were bought at an average cost of $39.41 per share, for a total transaction of $501,492.25. Following the completion of the acquisition, the chief financial officer directly owned 12,725 shares of the company's stock, valued at approximately $501,492.25. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Valvoline Stock Up 1.7%

VVV stock traded up $0.65 during mid-day trading on Thursday, hitting $39.01. 1,349,092 shares of the company were exchanged, compared to its average volume of 1,719,536. The company has a debt-to-equity ratio of 3.37, a quick ratio of 0.60 and a current ratio of 0.73. Valvoline has a 1-year low of $31.01 and a 1-year high of $43.74. The firm has a market cap of $4.96 billion, a P/E ratio of 18.14 and a beta of 1.21. The firm's 50 day simple moving average is $38.01 and its 200 day simple moving average is $36.13.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VVV shares. Wells Fargo & Company upped their target price on shares of Valvoline from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Valvoline from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Stephens increased their price target on shares of Valvoline from $40.00 to $44.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Piper Sandler reissued 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. Finally, Zacks Research raised shares of Valvoline to a "hold" rating in a research report on Tuesday, August 12th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.31.

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.