Toronto Dominion Bank lifted its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 17.1% during the 1st quarter, HoldingsChannel reports. The fund owned 85,542 shares of the casino operator’s stock after acquiring an additional 12,481 shares during the quarter. Toronto Dominion Bank’s holdings in Las Vegas Sands were worth $5,213,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Coronation Fund Managers Ltd. acquired a new position in shares of Las Vegas Sands in the first quarter valued at about $4,367,000. Skylands Capital LLC grew its stake in Las Vegas Sands by 234.1% during the fourth quarter. Skylands Capital LLC now owns 68,500 shares of the casino operator’s stock worth $3,565,000 after buying an additional 48,000 shares in the last quarter. PRW Wealth Management LLC acquired a new stake in Las Vegas Sands during the fourth quarter worth about $99,000. Greenleaf Trust acquired a new stake in Las Vegas Sands during the fourth quarter worth about $204,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Las Vegas Sands during the fourth quarter worth about $894,000. Institutional investors and hedge funds own 36.76% of the company’s stock.
A number of equities research analysts have issued reports on LVS shares. Zacks Investment Research upgraded shares of Las Vegas Sands from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. increased their price objective on shares of Las Vegas Sands from $62.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Credit Suisse Group reiterated a “neutral” rating and set a $58.00 price objective on shares of Las Vegas Sands in a research note on Wednesday, March 20th. HSBC downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price objective on shares of Las Vegas Sands from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $68.32.
Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, April 17th. The casino operator reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Las Vegas Sands had a net margin of 11.15% and a return on equity of 34.52%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 earnings per share. As a group, equities analysts predict that Las Vegas Sands Corp. will post 3.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 19th will be issued a $0.77 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.26%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 92.77%.
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Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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