Zacks Investment Research Lowers Marriot Vacations Worldwide Corporation (NYSE:VAC) to Hold

Zacks Investment Research lowered shares of Marriot Vacations Worldwide Corporation (NYSE:VAC) from a strong-buy rating to a hold rating in a research note published on Thursday, October 5th.

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. “

Several other research firms have also recently commented on VAC. BidaskClub cut shares of Marriot Vacations Worldwide Corporation from a strong-buy rating to a buy rating in a research note on Friday, June 23rd. Telsey Advisory Group raised their target price on shares of Marriot Vacations Worldwide Corporation from $113.00 to $120.00 and gave the stock a market perform rating in a research note on Friday, August 4th. ValuEngine cut shares of Marriot Vacations Worldwide Corporation from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Buckingham Research initiated coverage on shares of Marriot Vacations Worldwide Corporation in a research note on Monday, June 19th. They issued a buy rating and a $142.00 price objective for the company. Finally, Deutsche Bank AG reiterated a hold rating and issued a $112.00 price objective (up previously from $92.00) on shares of Marriot Vacations Worldwide Corporation in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $126.86.

Marriot Vacations Worldwide Corporation (NYSE VAC) opened at 124.39 on Thursday. The company’s 50-day moving average is $119.33 and its 200-day moving average is $114.63. The firm has a market capitalization of $3.36 billion, a P/E ratio of 22.37 and a beta of 1.13. Marriot Vacations Worldwide Corporation has a 52-week low of $61.03 and a 52-week high of $128.75.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last posted its earnings results on Thursday, August 3rd. The company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.34. Marriot Vacations Worldwide Corporation had a net margin of 7.90% and a return on equity of 16.96%. The firm had revenue of $497.62 million for the quarter, compared to the consensus estimate of $489.85 million. During the same period last year, the firm posted $1.08 EPS. The company’s revenue was up 17.6% on a year-over-year basis. On average, analysts predict that Marriot Vacations Worldwide Corporation will post $5.41 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by BBNS and is the property of of BBNS. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://baseballnewssource.com/markets/marriot-vacations-worldwide-corporation-vac-rating-lowered-to-hold-at-zacks-investment-research/1701054.html.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, September 20th. Marriot Vacations Worldwide Corporation’s payout ratio is currently 25.18%.

Marriot Vacations Worldwide Corporation declared that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that allows the company to buyback 1,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, major shareholder J W. Marriott, Jr. sold 5,962 shares of Marriot Vacations Worldwide Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $114.18, for a total transaction of $680,741.16. Following the completion of the sale, the insider now directly owns 12,144 shares in the company, valued at $1,386,601.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian E. Miller sold 10,500 shares of Marriot Vacations Worldwide Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $114.61, for a total transaction of $1,203,405.00. Following the sale, the vice president now owns 12,058 shares of the company’s stock, valued at $1,381,967.38. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in Marriot Vacations Worldwide Corporation by 42,912.0% in the first quarter. BlackRock Inc. now owns 2,875,350 shares of the company’s stock valued at $287,334,000 after purchasing an additional 2,868,665 shares during the period. FMR LLC grew its holdings in Marriot Vacations Worldwide Corporation by 73.1% in the first quarter. FMR LLC now owns 1,011,226 shares of the company’s stock valued at $101,052,000 after purchasing an additional 427,126 shares during the period. Capital Growth Management LP purchased a new stake in Marriot Vacations Worldwide Corporation in the second quarter valued at approximately $30,615,000. Vanguard Group Inc. grew its holdings in Marriot Vacations Worldwide Corporation by 10.2% in the first quarter. Vanguard Group Inc. now owns 1,934,276 shares of the company’s stock valued at $193,293,000 after purchasing an additional 179,768 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Marriot Vacations Worldwide Corporation by 623.5% in the second quarter. Renaissance Technologies LLC now owns 117,200 shares of the company’s stock valued at $13,800,000 after purchasing an additional 101,000 shares during the period. Institutional investors and hedge funds own 75.63% of the company’s stock.

About Marriot Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

Get a free copy of the Zacks research report on Marriot Vacations Worldwide Corporation (VAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Marriot Vacations Worldwide Corporation (NYSE:VAC)

Receive News & Ratings for Marriot Vacations Worldwide Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriot Vacations Worldwide Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.