Waratah Capital Advisors Ltd. grew its holdings in Marriott Vacations Worldwide Corp (NYSE:VAC) by 7.9% in the first quarter, Holdings Channel reports. The institutional investor owned 304,739 shares of the company’s stock after acquiring an additional 22,224 shares during the period. Marriott Vacations Worldwide comprises 3.0% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 8th biggest position. Waratah Capital Advisors Ltd.’s holdings in Marriott Vacations Worldwide were worth $28,493,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in VAC. JPMorgan Chase & Co. grew its position in Marriott Vacations Worldwide by 38.1% in the third quarter. JPMorgan Chase & Co. now owns 258,418 shares of the company’s stock valued at $28,878,000 after acquiring an additional 71,321 shares in the last quarter. LPL Financial LLC acquired a new stake in Marriott Vacations Worldwide in the third quarter valued at approximately $361,000. Federated Investors Inc. PA grew its position in Marriott Vacations Worldwide by 72.0% in the third quarter. Federated Investors Inc. PA now owns 37,227 shares of the company’s stock valued at $4,161,000 after acquiring an additional 15,586 shares in the last quarter. Vanguard Group Inc grew its position in Marriott Vacations Worldwide by 63.2% in the third quarter. Vanguard Group Inc now owns 3,428,227 shares of the company’s stock valued at $383,104,000 after acquiring an additional 1,327,758 shares in the last quarter. Finally, Palisade Asset Management LLC grew its position in Marriott Vacations Worldwide by 4.8% in the fourth quarter. Palisade Asset Management LLC now owns 5,922 shares of the company’s stock valued at $418,000 after acquiring an additional 273 shares in the last quarter. 87.18% of the stock is owned by institutional investors.
In other news, SVP Laurie A. Sullivan sold 2,857 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $95.87, for a total transaction of $273,900.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.
Marriott Vacations Worldwide (NYSE:VAC) last released its quarterly earnings results on Tuesday, May 7th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.24). Marriott Vacations Worldwide had a return on equity of 8.05% and a net margin of 0.60%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $1.39 EPS. The firm’s quarterly revenue was up 85.6% compared to the same quarter last year. On average, research analysts predict that Marriott Vacations Worldwide Corp will post 7.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, May 22nd. Marriott Vacations Worldwide’s payout ratio is currently 30.61%.
VAC has been the subject of several recent research reports. Zacks Investment Research raised shares of Marriott Vacations Worldwide from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Saturday. ValuEngine raised shares of Marriott Vacations Worldwide from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 24th. Nomura lowered their price objective on shares of Marriott Vacations Worldwide from $158.00 to $136.00 and set a “buy” rating for the company in a research report on Thursday, February 28th. SunTrust Banks increased their price objective on shares of Marriott Vacations Worldwide to $149.00 and gave the company a “positive” rating in a research report on Friday, March 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Marriott Vacations Worldwide in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $129.57.
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, Sheraton, Westin, Hyatt Residence Club brands, and Marriott Vacation Club Pulse brands. The company operates through two segments, Vacation Ownership and Exchange & Third-Party Management.
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