Allspring Global Investments Holdings LLC Sells 2,053 Shares of Marriott Vacations Worldwide Co. (NYSE:VAC)

Allspring Global Investments Holdings LLC lowered its position in shares of Marriott Vacations Worldwide Co. (NYSE:VAC) by 89.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235 shares of the company’s stock after selling 2,053 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Marriott Vacations Worldwide were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in VAC. Vanguard Group Inc. grew its position in Marriott Vacations Worldwide by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,711,264 shares of the company’s stock worth $585,266,000 after purchasing an additional 18,944 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Marriott Vacations Worldwide by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,033,837 shares of the company’s stock worth $139,145,000 after purchasing an additional 5,879 shares during the period. Geode Capital Management LLC grew its position in Marriott Vacations Worldwide by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 533,068 shares of the company’s stock worth $71,890,000 after purchasing an additional 17,049 shares during the period. Burgundy Asset Management Ltd. grew its position in Marriott Vacations Worldwide by 0.5% in the 1st quarter. Burgundy Asset Management Ltd. now owns 521,749 shares of the company’s stock worth $70,363,000 after purchasing an additional 2,696 shares during the period. Finally, LSV Asset Management grew its position in Marriott Vacations Worldwide by 479.2% in the 1st quarter. LSV Asset Management now owns 497,252 shares of the company’s stock worth $67,059,000 after purchasing an additional 411,407 shares during the period. Institutional investors own 83.27% of the company’s stock.

Marriott Vacations Worldwide Stock Down 1.5 %

Shares of VAC stock opened at $80.24 on Friday. The stock has a market cap of $2.85 billion, a P/E ratio of 10.84 and a beta of 1.99. Marriott Vacations Worldwide Co. has a 52 week low of $75.19 and a 52 week high of $165.85. The company has a quick ratio of 2.72, a current ratio of 3.28 and a debt-to-equity ratio of 2.10. The company’s fifty day simple moving average is $92.14 and its two-hundred day simple moving average is $111.60.

Marriott Vacations Worldwide (NYSE:VAC) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.99). Marriott Vacations Worldwide had a return on equity of 14.68% and a net margin of 6.50%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $3.02 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts predict that Marriott Vacations Worldwide Co. will post 7.62 EPS for the current fiscal year.

Marriott Vacations Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.59%. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is presently 38.92%.

Wall Street Analyst Weigh In

A number of research firms have commented on VAC. Truist Financial cut their target price on shares of Marriott Vacations Worldwide from $187.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group downgraded shares of Marriott Vacations Worldwide from a “buy” rating to a “hold” rating and cut their price objective for the company from $150.00 to $112.00 in a research report on Thursday, October 5th. JPMorgan Chase & Co. started coverage on shares of Marriott Vacations Worldwide in a research report on Thursday, October 12th. They set a “neutral” rating and a $105.00 price objective for the company. Bank of America downgraded shares of Marriott Vacations Worldwide from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $125.00 to $65.00 in a research report on Friday. Finally, Barclays cut their price objective on shares of Marriott Vacations Worldwide from $131.00 to $118.00 and set an “overweight” rating for the company in a research report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Marriott Vacations Worldwide currently has an average rating of “Hold” and a consensus target price of $135.86.

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.