Marriott Vacations Worldwide Corp. (VAC) Downgraded by Zacks Investment Research to “Sell”
Marriott Vacations Worldwide Corp. (NYSE:VAC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “
Several other brokerages have also recently weighed in on VAC. Deutsche Bank AG reaffirmed a “hold” rating on shares of Marriott Vacations Worldwide Corp. in a report on Sunday, June 26th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $92.00 target price on shares of Marriott Vacations Worldwide Corp. in a report on Monday, September 12th. Telsey Advisory Group reduced their target price on shares of Marriott Vacations Worldwide Corp. from $81.00 to $72.00 and set a “market perform” rating on the stock in a report on Friday, October 14th. Finally, Stifel Nicolaus raised their target price on shares of Marriott Vacations Worldwide Corp. from $84.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.67.
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Shares of Marriott Vacations Worldwide Corp. (NYSE:VAC) opened at 65.91 on Wednesday. The firm’s 50-day moving average is $72.96 and its 200 day moving average is $68.52. The stock has a market cap of $1.78 billion, a P/E ratio of 17.34 and a beta of 1.18. Marriott Vacations Worldwide Corp. has a 52-week low of $45.95 and a 52-week high of $80.27.
Marriott Vacations Worldwide Corp. (NYSE:VAC) last issued its quarterly earnings results on Thursday, October 13th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.19. The business had revenue of $407 million for the quarter, compared to analyst estimates of $446.83 million. Marriott Vacations Worldwide Corp. had a return on equity of 13.10% and a net margin of 6.68%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 EPS. Analysts forecast that Marriott Vacations Worldwide Corp. will post $4.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Thursday, September 22nd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.82%. The ex-dividend date was Tuesday, September 20th. Marriott Vacations Worldwide Corp.’s dividend payout ratio is currently 29.20%.
In related news, VP Brian E. Miller sold 4,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $78.66, for a total value of $314,640.00. Following the completion of the sale, the vice president now directly owns 18,771 shares of the company’s stock, valued at approximately $1,476,526.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of Marriott Vacations Worldwide Corp. during the second quarter valued at about $22,319,000. Dimensional Fund Advisors LP increased its stake in Marriott Vacations Worldwide Corp. by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,304,172 shares of the company’s stock worth $157,811,000 after buying an additional 200,376 shares during the period. Fiera Capital Corp increased its stake in Marriott Vacations Worldwide Corp. by 947.5% in the second quarter. Fiera Capital Corp now owns 213,692 shares of the company’s stock worth $14,636,000 after buying an additional 193,292 shares during the period. Point72 Asset Management L.P. increased its stake in Marriott Vacations Worldwide Corp. by 1,835.0% in the second quarter. Point72 Asset Management L.P. now owns 199,300 shares of the company’s stock worth $13,650,000 after buying an additional 189,000 shares during the period. Finally, EverPoint Asset Management LLC purchased a new stake in Marriott Vacations Worldwide Corp. during the second quarter worth $10,274,000. 78.30% of the stock is owned by hedge funds and other institutional investors.
Marriott Vacations Worldwide Corp. Company Profile
Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. The Company is a developer, marketer and seller of vacation ownership and related products under The Ritz-Carlton Destination Club brand.
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