Gabelli Funds LLC decreased its stake in shares of Marriott Vacations Worldwide Corp (NYSE:VAC) by 17.5% during the 1st quarter, Holdings Channel reports. The firm owned 14,837 shares of the company’s stock after selling 3,150 shares during the quarter. Gabelli Funds LLC’s holdings in Marriott Vacations Worldwide were worth $1,387,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of VAC. We Are One Seven LLC bought a new position in shares of Marriott Vacations Worldwide during the fourth quarter worth about $32,000. Exane Derivatives bought a new position in shares of Marriott Vacations Worldwide during the fourth quarter worth about $38,000. Doyle Wealth Management bought a new position in shares of Marriott Vacations Worldwide during the fourth quarter worth about $38,000. Huntington National Bank lifted its position in shares of Marriott Vacations Worldwide by 65.4% during the fourth quarter. Huntington National Bank now owns 579 shares of the company’s stock worth $41,000 after purchasing an additional 229 shares during the last quarter. Finally, Private Capital Group LLC lifted its position in shares of Marriott Vacations Worldwide by 205.2% during the fourth quarter. Private Capital Group LLC now owns 757 shares of the company’s stock worth $53,000 after purchasing an additional 509 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on VAC. Zacks Investment Research cut shares of Marriott Vacations Worldwide from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. Credit Suisse Group reissued an “outperform” rating and issued a $120.00 target price on shares of Marriott Vacations Worldwide in a report on Wednesday, March 20th. SunTrust Banks raised their target price on shares of Marriott Vacations Worldwide to $149.00 and gave the stock a “positive” rating in a report on Friday, March 1st. Nomura cut their target price on shares of Marriott Vacations Worldwide from $158.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, February 28th. Finally, ValuEngine raised shares of Marriott Vacations Worldwide from a “strong sell” rating to a “sell” rating in a report on Thursday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Marriott Vacations Worldwide currently has an average rating of “Buy” and a consensus price target of $129.57.
Marriott Vacations Worldwide (NYSE:VAC) last issued its earnings results on Tuesday, May 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $1.39 EPS. The business’s revenue was up 85.6% on a year-over-year basis. As a group, analysts anticipate that Marriott Vacations Worldwide Corp will post 7.72 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.82%. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is presently 30.61%.
In other news, SVP Laurie A. Sullivan sold 2,857 shares of Marriott Vacations Worldwide stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $95.87, for a total transaction of $273,900.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.
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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, 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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