State of Michigan Retirement System Boosts Holdings in Marriott Vacations Worldwide Co. (NYSE:VAC)

State of Michigan Retirement System lifted its stake in Marriott Vacations Worldwide Co. (NYSE:VACFree Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,113 shares of the company’s stock after buying an additional 200 shares during the period. State of Michigan Retirement System’s holdings in Marriott Vacations Worldwide were worth $874,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in shares of Marriott Vacations Worldwide by 615.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 286 shares of the company’s stock valued at $31,000 after buying an additional 246 shares during the last quarter. Diversified Trust Co grew its position in Marriott Vacations Worldwide by 3.0% during the 1st quarter. Diversified Trust Co now owns 3,833 shares of the company’s stock worth $413,000 after purchasing an additional 112 shares during the last quarter. Vanguard Capital Wealth Advisors purchased a new position in Marriott Vacations Worldwide during the 1st quarter worth $512,000. Wealth Enhancement Advisory Services LLC purchased a new position in Marriott Vacations Worldwide during the 1st quarter worth $578,000. Finally, TB Alternative Assets Ltd. purchased a new position in Marriott Vacations Worldwide during the 1st quarter worth $711,000. 89.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VAC. Barclays raised their price objective on shares of Marriott Vacations Worldwide from $102.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 8th. Mizuho lowered their price objective on shares of Marriott Vacations Worldwide from $128.00 to $126.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Truist Financial raised their target price on shares of Marriott Vacations Worldwide from $159.00 to $161.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Marriott Vacations Worldwide from $116.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Stifel Nicolaus raised their target price on shares of Marriott Vacations Worldwide from $115.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $112.22.

Check Out Our Latest Research Report on Marriott Vacations Worldwide

Marriott Vacations Worldwide Stock Performance

Shares of VAC opened at $82.13 on Monday. The company has a current ratio of 3.12, a quick ratio of 2.62 and a debt-to-equity ratio of 2.22. The stock has a market cap of $2.89 billion, a P/E ratio of 15.18, a PEG ratio of 0.61 and a beta of 1.81. The company has a 50-day moving average of $91.11 and a two-hundred day moving average of $91.92. Marriott Vacations Worldwide Co. has a 12-month low of $72.78 and a 12-month high of $133.99.

Marriott Vacations Worldwide (NYSE:VACGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.14. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Marriott Vacations Worldwide had a net margin of 4.50% and a return on equity of 11.77%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 earnings per share. As a group, research analysts predict that Marriott Vacations Worldwide Co. will post 7.65 EPS for the current fiscal year.

Marriott Vacations Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.70%. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is presently 56.19%.

About Marriott Vacations Worldwide

(Free Report)

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related businesses, products, and services in the United States and internationally. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management.

See Also

Institutional Ownership by Quarter for Marriott Vacations Worldwide (NYSE:VAC)

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