California Public Employees Retirement System Cuts Position in Vail Resorts, Inc. (NYSE:MTN)

California Public Employees Retirement System reduced its stake in shares of Vail Resorts, Inc. (NYSE:MTN) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 73,774 shares of the company’s stock after selling 1,524 shares during the period. California Public Employees Retirement System’s holdings in Vail Resorts were worth $15,749,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MTN. Pittenger & Anderson Inc. raised its holdings in Vail Resorts by 125.0% in the third quarter. Pittenger & Anderson Inc. now owns 117 shares of the company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Park Place Capital Corp boosted its holdings in shares of Vail Resorts by 531.6% in the 4th quarter. Park Place Capital Corp now owns 120 shares of the company’s stock valued at $26,000 after buying an additional 101 shares in the last quarter. Rise Advisors LLC grew its position in shares of Vail Resorts by 62.2% in the 4th quarter. Rise Advisors LLC now owns 159 shares of the company’s stock worth $34,000 after buying an additional 61 shares during the last quarter. Desjardins Global Asset Management Inc. raised its stake in shares of Vail Resorts by 70.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 167 shares of the company’s stock worth $36,000 after acquiring an additional 69 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Vail Resorts during the third quarter valued at approximately $64,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Vail Resorts Price Performance

Shares of NYSE:MTN opened at $195.65 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 2.37. Vail Resorts, Inc. has a twelve month low of $195.13 and a twelve month high of $258.13. The company’s 50 day moving average is $221.91 and its 200 day moving average is $220.78. The company has a market cap of $7.43 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 2.19 and a beta of 1.11.

Vail Resorts (NYSE:MTN) last released its quarterly earnings data on Monday, March 11th. The company reported $5.76 earnings per share for the quarter, missing analysts’ consensus estimates of $6.07 by ($0.31). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.15 billion. Vail Resorts had a return on equity of 19.16% and a net margin of 8.44%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.16 EPS. On average, sell-side analysts forecast that Vail Resorts, Inc. will post 7.6 EPS for the current year.

Vail Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were paid a dividend of $2.22 per share. The ex-dividend date was Wednesday, March 27th. This represents a $8.88 dividend on an annualized basis and a dividend yield of 4.54%. This is a positive change from Vail Resorts’s previous quarterly dividend of $2.06. Vail Resorts’s dividend payout ratio (DPR) is presently 148.25%.

Insider Activity

In related news, Director Peter A. Vaughn sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $222.77, for a total transaction of $222,770.00. Following the sale, the director now directly owns 7,592 shares of the company’s stock, valued at $1,691,269.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MTN. Mizuho started coverage on shares of Vail Resorts in a report on Tuesday, March 26th. They issued a “buy” rating and a $256.00 price target on the stock. Morgan Stanley dropped their target price on Vail Resorts from $242.00 to $229.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $263.00 price target on shares of Vail Resorts in a research note on Friday, March 22nd. Bank of America lowered Vail Resorts from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $285.00 to $250.00 in a research note on Friday, March 8th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Vail Resorts in a research report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $260.11.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.