Marriott Vacations Worldwide (VAC) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Marriott Vacations Worldwide (NYSE:VAC) from a sell rating to a hold rating in a research note published on Thursday morning.
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. “
A number of other research analysts have also issued reports on the company. Nomura set a $158.00 price objective on Marriott Vacations Worldwide and gave the company a buy rating in a research report on Thursday, August 23rd. Credit Suisse Group started coverage on Marriott Vacations Worldwide in a research report on Friday, May 18th. They set an outperform rating and a $146.00 price objective for the company. Wolfe Research started coverage on Marriott Vacations Worldwide in a research report on Friday, June 8th. They set an outperform rating for the company. Jefferies Financial Group started coverage on Marriott Vacations Worldwide in a research report on Monday, July 16th. They set a buy rating and a $150.00 price objective for the company. Finally, ValuEngine raised Marriott Vacations Worldwide from a sell rating to a hold rating in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $143.07.
Marriott Vacations Worldwide (NYSE:VAC) last released its quarterly earnings data on Thursday, August 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $595.15 million. During the same quarter in the prior year, the firm earned $1.74 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. equities analysts expect that Marriott Vacations Worldwide will post 7.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.40%. The ex-dividend date is Wednesday, September 19th. Marriott Vacations Worldwide’s payout ratio is currently 27.68%.
In other Marriott Vacations Worldwide news, CEO Stephen P. Weisz bought 3,500 shares of the business’s stock in a transaction on Thursday, June 28th. The shares were purchased at an average price of $108.43 per share, with a total value of $379,505.00. Following the purchase, the chief executive officer now directly owns 180,017 shares of the company’s stock, valued at $19,519,243.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in VAC. Itau Unibanco Holding S.A. bought a new stake in shares of Marriott Vacations Worldwide in the 2nd quarter worth $108,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Marriott Vacations Worldwide in the 1st quarter worth $140,000. Macquarie Group Ltd. raised its stake in shares of Marriott Vacations Worldwide by 266.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,100 shares of the company’s stock worth $124,000 after buying an additional 800 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in shares of Marriott Vacations Worldwide in the 2nd quarter worth $132,000. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Marriott Vacations Worldwide in the 2nd quarter worth $143,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
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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