OppenheimerFunds Inc. decreased its position in Marriott Vacations Worldwide Corp (NYSE:VAC) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,600 shares of the company’s stock after selling 1,307 shares during the quarter. OppenheimerFunds Inc.’s holdings in Marriott Vacations Worldwide were worth $1,433,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Suntrust Banks Inc. purchased a new position in shares of Marriott Vacations Worldwide during the fourth quarter valued at about $267,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Marriott Vacations Worldwide during the fourth quarter valued at about $22,781,000. Valeo Financial Advisors LLC purchased a new position in shares of Marriott Vacations Worldwide during the fourth quarter valued at about $101,000. Capital Growth Management LP purchased a new position in shares of Marriott Vacations Worldwide during the fourth quarter valued at about $9,465,000. Finally, Virtu Financial LLC purchased a new position in shares of Marriott Vacations Worldwide during the fourth quarter valued at about $496,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.
In related news, VP Dwight D. Smith sold 1,250 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $146.60, for a total transaction of $183,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael E. Yonker sold 2,636 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $143.21, for a total transaction of $377,501.56. The disclosure for this sale can be found here. Insiders have sold 5,128 shares of company stock worth $748,368 in the last three months. 3.30% of the stock is currently owned by insiders.
Marriott Vacations Worldwide (NYSE:VAC) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.16 by $0.40. Marriott Vacations Worldwide had a net margin of 11.61% and a return on equity of 16.46%. The business had revenue of $481.22 million for the quarter, compared to analyst estimates of $491.36 million. During the same quarter in the previous year, the firm posted $1.83 earnings per share. Marriott Vacations Worldwide’s quarterly revenue was down 14.8% on a year-over-year basis. analysts expect that Marriott Vacations Worldwide Corp will post 6.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, February 28th. Marriott Vacations Worldwide’s payout ratio is currently 19.49%.
VAC has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Marriott Vacations Worldwide from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Macquarie initiated coverage on shares of Marriott Vacations Worldwide in a research report on Friday, January 5th. They set an “outperform” rating on the stock. SunTrust Banks reiterated a “hold” rating and set a $141.00 price target on shares of Marriott Vacations Worldwide in a research report on Tuesday, February 27th. Finally, ValuEngine cut shares of Marriott Vacations Worldwide from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Marriott Vacations Worldwide presently has a consensus rating of “Buy” and a consensus price target of $136.11.
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Marriott Vacations Worldwide 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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