BlackRock Inc. grew its holdings in Marriott Vacations Worldwide Corp (NYSE:VAC) by 43.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,676,093 shares of the company’s stock after buying an additional 1,411,002 shares during the quarter. BlackRock Inc. owned approximately 17.60% of Marriott Vacations Worldwide worth $522,552,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VAC. Millennium Management LLC lifted its holdings in Marriott Vacations Worldwide by 2,989.3% in the 2nd quarter. Millennium Management LLC now owns 479,464 shares of the company’s stock worth $54,160,000 after buying an additional 463,944 shares during the period. Voya Investment Management LLC lifted its holdings in Marriott Vacations Worldwide by 198.9% in the 2nd quarter. Voya Investment Management LLC now owns 604,559 shares of the company’s stock worth $68,291,000 after buying an additional 402,323 shares during the period. Senvest Management LLC purchased a new stake in Marriott Vacations Worldwide in the 2nd quarter worth approximately $41,123,000. Victory Capital Management Inc. lifted its holdings in Marriott Vacations Worldwide by 186,969.9% in the 2nd quarter. Victory Capital Management Inc. now owns 342,338 shares of the company’s stock worth $38,671,000 after buying an additional 342,155 shares during the period. Finally, Van Berkom & Associates Inc. purchased a new stake in Marriott Vacations Worldwide in the 3rd quarter worth approximately $37,838,000. Institutional investors and hedge funds own 79.32% of the company’s stock.
In other news, Director Charles Elliott Andrews bought 6,380 shares of the stock in a transaction dated Wednesday, November 28th. The stock was bought at an average price of $79.17 per share, for a total transaction of $505,104.60. Following the purchase, the director now directly owns 6,380 shares in the company, valued at approximately $505,104.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen P. Weisz bought 2,355 shares of the stock in a transaction dated Friday, November 9th. The stock was purchased at an average price of $81.22 per share, with a total value of $191,273.10. Following the purchase, the chief executive officer now owns 186,352 shares in the company, valued at $15,135,509.44. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 14,735 shares of company stock valued at $1,156,758. 3.50% of the stock is currently owned by company insiders.
VAC opened at $72.60 on Friday. The company has a market capitalization of $3.66 billion, a PE ratio of 12.56, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 1.11, a current ratio of 3.83 and a quick ratio of 3.00. Marriott Vacations Worldwide Corp has a 52 week low of $72.10 and a 52 week high of $154.14.
Marriott Vacations Worldwide (NYSE:VAC) last released its earnings results on Wednesday, November 7th. The company reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.34). The firm had revenue of $750.00 million during the quarter, compared to analysts’ expectations of $717.48 million. Marriott Vacations Worldwide had a net margin of 4.04% and a return on equity of 10.28%. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 EPS. As a group, research analysts expect that Marriott Vacations Worldwide Corp will post 5.83 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on the company. Macquarie cut Marriott Vacations Worldwide from an “outperform” rating to a “neutral” rating in a report on Thursday, November 15th. ValuEngine cut Marriott Vacations Worldwide from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research cut Marriott Vacations Worldwide from a “buy” rating to a “hold” rating in a research note on Friday, October 19th. Finally, Nomura set a $158.00 target price on Marriott Vacations Worldwide and gave the company a “buy” rating in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Marriott Vacations Worldwide has a consensus rating of “Buy” and an average price target of $137.20.
About Marriott Vacations Worldwide
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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