Truist Financial Corp Reduces Stake in Vail Resorts, Inc. (NYSE:MTN)

Truist Financial Corp lessened its stake in shares of Vail Resorts, Inc. (NYSE:MTN) by 68.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,702 shares of the company’s stock after selling 24,893 shares during the quarter. Truist Financial Corp’s holdings in Vail Resorts were worth $2,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTN. Nordea Investment Management AB boosted its position in shares of Vail Resorts by 2,451.9% in the fourth quarter. Nordea Investment Management AB now owns 417,293 shares of the company’s stock valued at $89,931,000 after acquiring an additional 400,941 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Vail Resorts during the 4th quarter valued at $35,645,000. London Co. of Virginia bought a new position in shares of Vail Resorts in the third quarter worth $32,280,000. Principal Financial Group Inc. raised its position in shares of Vail Resorts by 7.9% in the third quarter. Principal Financial Group Inc. now owns 1,795,454 shares of the company’s stock worth $398,393,000 after buying an additional 131,170 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Vail Resorts by 42.3% during the third quarter. Northern Trust Corp now owns 375,072 shares of the company’s stock valued at $83,225,000 after buying an additional 111,487 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MTN shares. Mizuho assumed coverage on Vail Resorts in a report on Tuesday, March 26th. They issued a “buy” rating and a $256.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of Vail Resorts from $252.00 to $243.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Bank of America cut shares of Vail Resorts from a “buy” rating to a “neutral” rating and cut their price target for the stock from $285.00 to $250.00 in a research note on Friday, March 8th. Truist Financial restated a “buy” rating and set a $290.00 price objective on shares of Vail Resorts in a research report on Friday, January 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $263.00 target price on shares of Vail Resorts in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $260.11.

Vail Resorts Price Performance

MTN stock opened at $195.81 on Thursday. The firm has a market cap of $7.43 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.16 and a beta of 1.14. The firm’s fifty day moving average is $216.78 and its 200 day moving average is $219.54. Vail Resorts, Inc. has a 52 week low of $188.43 and a 52 week high of $258.13. The company has a debt-to-equity ratio of 2.37, a quick ratio of 0.85 and a current ratio of 0.96.

Vail Resorts (NYSE:MTN) last announced its quarterly earnings data on Monday, March 11th. The company reported $5.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.07 by ($0.31). Vail Resorts had a net margin of 8.44% and a return on equity of 19.16%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $5.16 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts predict that Vail Resorts, Inc. will post 7.6 earnings per share for the current year.

Vail Resorts Increases Dividend

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

Insider Activity

In related news, Director Peter A. Vaughn sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $222.77, for a total transaction of $222,770.00. Following the completion of the sale, the director now directly owns 7,592 shares in the company, valued at approximately $1,691,269.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Vail Resorts Profile

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.