Amalgamated Bank lowered its position in shares of Marriott Vacations Worldwide Co. (NYSE:VAC – Get Rating) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 29,432 shares of the company’s stock after selling 924 shares during the period. Amalgamated Bank’s holdings in Marriott Vacations Worldwide were worth $4,641,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in Marriott Vacations Worldwide during the first quarter valued at $40,000. Cornerstone Advisory LLC purchased a new position in Marriott Vacations Worldwide during the fourth quarter valued at $43,000. Acadian Asset Management LLC purchased a new position in Marriott Vacations Worldwide during the first quarter valued at $55,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Marriott Vacations Worldwide by 60.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 420 shares of the company’s stock worth $66,000 after purchasing an additional 159 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Marriott Vacations Worldwide by 1,055.0% in the 1st quarter. Covestor Ltd now owns 462 shares of the company’s stock worth $73,000 after purchasing an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Wall Street Analysts Forecast Growth
VAC has been the subject of several recent analyst reports. TheStreet raised Marriott Vacations Worldwide from a “c” rating to a “b-” rating in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Marriott Vacations Worldwide from $188.00 to $192.00 in a research report on Wednesday, August 10th. StockNews.com raised Marriott Vacations Worldwide from a “hold” rating to a “buy” rating in a research report on Tuesday, September 13th. Truist Financial lowered their price target on Marriott Vacations Worldwide from $205.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, August 12th. Finally, Barclays lifted their price objective on Marriott Vacations Worldwide from $136.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Marriott Vacations Worldwide currently has a consensus rating of “Buy” and an average target price of $193.80.
Marriott Vacations Worldwide Price Performance
Marriott Vacations Worldwide (NYSE:VAC – Get Rating) last released its quarterly earnings results on Monday, August 8th. The company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.59. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. Marriott Vacations Worldwide had a return on equity of 13.32% and a net margin of 6.07%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. On average, sell-side analysts forecast that Marriott Vacations Worldwide Co. will post 10.18 EPS for the current year.
Marriott Vacations Worldwide Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Thursday, September 22nd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.75%. Marriott Vacations Worldwide’s dividend payout ratio is currently 42.61%.
Insider Buying and Selling at Marriott Vacations Worldwide
In other Marriott Vacations Worldwide news, VP Dwight D. Smith sold 2,700 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $148.00, for a total transaction of $399,600.00. Following the completion of the sale, the vice president now directly owns 17,112 shares in the company, valued at approximately $2,532,576. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.
About Marriott Vacations Worldwide
Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related products. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management. The company manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton Vacation Club, Westin Vacation Club, Hyatt Residence Club, and Marriott Vacation Club Pulse brands.
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