BlackRock Inc. boosted its stake in Marriott Vacations Worldwide Corp (NYSE:VAC) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,265,091 shares of the company’s stock after acquiring an additional 310,249 shares during the period. BlackRock Inc. owned 12.29% of Marriott Vacations Worldwide worth $368,825,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. GAM Holding AG grew its stake in shares of Marriott Vacations Worldwide by 22.6% during the 2nd quarter. GAM Holding AG now owns 6,403 shares of the company’s stock valued at $723,000 after purchasing an additional 1,182 shares during the period. Tygh Capital Management Inc. purchased a new stake in shares of Marriott Vacations Worldwide during the 2nd quarter worth approximately $4,116,000. Argent Capital Management LLC purchased a new stake in shares of Marriott Vacations Worldwide during the 2nd quarter worth approximately $706,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Marriott Vacations Worldwide by 10.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,409 shares of the company’s stock worth $19,815,000 after acquiring an additional 15,999 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Marriott Vacations Worldwide during the 2nd quarter worth approximately $2,460,000. Institutional investors and hedge funds own 90.25% of the company’s stock.
In related news, CEO Stephen P. Weisz purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 28th. The shares were bought at an average price of $108.43 per share, for a total transaction of $379,505.00. Following the acquisition, the chief executive officer now owns 180,017 shares of the company’s stock, valued at approximately $19,519,243.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.50% of the company’s stock.
Several brokerages have recently issued reports on VAC. Nomura set a $158.00 price objective on Marriott Vacations Worldwide and gave the stock a “buy” rating in a report on Thursday, August 23rd. Wolfe Research began coverage on Marriott Vacations Worldwide in a report on Friday, June 8th. They set an “outperform” rating on the stock. Zacks Investment Research raised Marriott Vacations Worldwide from a “hold” rating to a “strong-buy” rating and set a $134.00 price objective on the stock in a report on Friday, July 27th. Stifel Nicolaus decreased their price objective on Marriott Vacations Worldwide from $160.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, June 20th. Finally, ValuEngine raised Marriott Vacations Worldwide from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Marriott Vacations Worldwide currently has an average rating of “Buy” and an average price target of $143.07.
NYSE:VAC opened at $112.07 on Friday. Marriott Vacations Worldwide Corp has a fifty-two week low of $107.17 and a fifty-two week high of $154.14. The firm has a market cap of $2.88 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.55 and a beta of 1.38. The company has a debt-to-equity ratio of 1.25, a quick ratio of 5.17 and a current ratio of 6.99.
Marriott Vacations Worldwide (NYSE:VAC) last released its quarterly earnings results on Thursday, August 2nd. The company reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.84 by ($0.25). Marriott Vacations Worldwide had a net margin of 9.16% and a return on equity of 15.81%. The company had revenue of $594.69 million for the quarter, compared to analysts’ expectations of $595.15 million. During the same quarter in the previous year, the company posted $1.74 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. sell-side analysts forecast that Marriott Vacations Worldwide Corp will post 7.01 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 4th. Investors of record on Thursday, September 20th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 19th. This represents a $1.60 annualized dividend and a yield of 1.43%. Marriott Vacations Worldwide’s payout ratio is presently 27.68%.
Marriott Vacations Worldwide Company Profile
Marriott Vacations Worldwide Corporation develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, and Marriott Vacation Club Pulse brands. It operates through three segments: North America, Asia Pacific, and Europe. The company also develops, markets, and sells vacation ownership and related products under The Ritz-Carlton Destination Club brand; and holds right to develop, market, and sell ownership residential products under The Ritz-Carlton Residences brand.
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