Zacks Investment Research lowered shares of Marriott Vacations Worldwide (NYSE:VAC) from a buy rating to a hold rating in a research note issued to investors on Friday.
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. “
VAC has been the topic of several other research reports. ValuEngine downgraded shares of Marriott Vacations Worldwide from a hold rating to a sell rating in a report on Wednesday, September 12th. Nomura set a $158.00 price target on shares of Marriott Vacations Worldwide and gave the company a buy rating in a report on Thursday, August 23rd. Finally, Jefferies Financial Group began coverage on shares of Marriott Vacations Worldwide in a report on Monday, July 16th. They issued a buy rating and a $150.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Marriott Vacations Worldwide currently has an average rating of Buy and a consensus target price of $139.85.
Marriott Vacations Worldwide (NYSE:VAC) last issued its earnings results on Thursday, August 2nd. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.25). Marriott Vacations Worldwide had a return on equity of 15.81% and a net margin of 9.16%. 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 previous year, the company posted $1.74 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Analysts predict that Marriott Vacations Worldwide will post 7.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Shareholders of record on Thursday, September 20th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, September 19th. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is presently 27.68%.
Several hedge funds and other institutional investors have recently made changes to their positions in VAC. Itau Unibanco Holding S.A. purchased a new position in shares of Marriott Vacations Worldwide during the second quarter valued at approximately $108,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Marriott Vacations Worldwide during the first quarter valued at approximately $140,000. Macquarie Group Ltd. lifted its stake in shares of Marriott Vacations Worldwide by 266.7% during the second quarter. Macquarie Group Ltd. now owns 1,100 shares of the company’s stock valued at $124,000 after buying an additional 800 shares during the period. Moneta Group Investment Advisors LLC purchased a new position in shares of Marriott Vacations Worldwide during the second quarter valued at approximately $132,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Marriott Vacations Worldwide during the second quarter valued at approximately $143,000. 90.11% of the stock is currently owned by 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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