Marriot Vacations Worldwide Corporation (VAC) Plans Dividend Increase – $0.40 Per Share
Marriot Vacations Worldwide Corporation (NYSE:VAC) declared a quarterly dividend on Thursday, December 7th, NASDAQ reports. Investors of record on Thursday, December 21st will be given a dividend of 0.40 per share on Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Wednesday, December 20th. This is a boost from Marriot Vacations Worldwide’s previous quarterly dividend of $0.35.
Marriot Vacations Worldwide has a dividend payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marriot Vacations Worldwide to earn $6.12 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 26.1%.
Marriot Vacations Worldwide (NYSE VAC) opened at $129.41 on Friday. The company has a quick ratio of 4.65, a current ratio of 6.64 and a debt-to-equity ratio of 1.21. The stock has a market cap of $3,512.13, a P/E ratio of 21.88 and a beta of 1.19. Marriot Vacations Worldwide has a 1-year low of $79.79 and a 1-year high of $143.53.
In other news, COO R. Lee Cunningham sold 9,000 shares of Marriot Vacations Worldwide stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $135.02, for a total transaction of $1,215,180.00. Following the sale, the chief operating officer now owns 19,356 shares in the company, valued at $2,613,447.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael E. Yonker sold 2,500 shares of Marriot Vacations Worldwide stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $134.43, for a total transaction of $336,075.00. Following the sale, the vice president now owns 3,128 shares in the company, valued at approximately $420,497.04. The disclosure for this sale can be found here. Insiders have sold 14,312 shares of company stock worth $1,925,645 in the last ninety days. Insiders own 3.30% of the company’s stock.
Several equities analysts have weighed in on VAC shares. ValuEngine downgraded shares of Marriot Vacations Worldwide from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Nomura lifted their price target on shares of Marriot Vacations Worldwide from $151.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Instinet started coverage on shares of Marriot Vacations Worldwide in a report on Wednesday, October 25th. They set a “buy” rating and a $151.00 price target on the stock. Zacks Investment Research downgraded shares of Marriot Vacations Worldwide from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of Marriot Vacations Worldwide in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Marriot Vacations Worldwide has an average rating of “Hold” and a consensus target price of $133.22.
Marriot Vacations Worldwide Company Profile
Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.
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