Veritiv (NYSE:VRTV) Price Target Increased to $162.00 by Analysts at Bank of America

Veritiv (NYSE:VRTV – Get Rating) had its target price hoisted by Bank of America from $150.00 to $162.00 in a research note published on Tuesday, The Fly reports.

Veritiv Stock Performance

Shares of VRTV opened at $125.94 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 1.42 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.71 billion, a P/E ratio of 5.41, a PEG ratio of 0.40 and a beta of 2.07. The company has a 50-day moving average of $129.12 and a two-hundred day moving average of $122.57. Veritiv has a 12-month low of $94.50 and a 12-month high of $161.84.

Veritiv Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, March 8th. Veritiv’s payout ratio is currently 10.82%.

Hedge Funds Weigh In On Veritiv

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in shares of Veritiv by 113.7% in the second quarter. Prudential Financial Inc. now owns 232,211 shares of the basic materials company’s stock valued at $25,207,000 after buying an additional 123,545 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Veritiv by 249.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 165,533 shares of the basic materials company’s stock valued at $20,147,000 after buying an additional 118,118 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Veritiv in the fourth quarter valued at approximately $12,113,000. Invesco Ltd. raised its position in shares of Veritiv by 50.4% in the first quarter. Invesco Ltd. now owns 222,863 shares of the basic materials company’s stock valued at $29,772,000 after buying an additional 74,654 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Veritiv by 40.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 138,510 shares of the basic materials company’s stock valued at $18,504,000 after buying an additional 39,551 shares during the last quarter. Institutional investors and hedge funds own 97.74% of the company’s stock.

Veritiv Company Profile

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Veritiv Corp. operates as a business-to-business distributor of print, publishing, packaging, facility solutions, print and publishing products and services. The firm provides logistics and supply chain management solutions to its customers. It operates through the following segments: Print, Publishing, Packaging and Facility Solutions.