Marriot Vacations Worldwide Corporation (VAC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Marriot Vacations Worldwide Corporation (NYSE:VAC) from a strong-buy rating to a hold rating in a research note released on Thursday.

According to Zacks, “Marriott Vacations Worldwide Corporation is a developer, marketer, seller and manager of vacation ownership resorts and vacation club, destination club and exchange programs, principally under the Marriott and Ritz-Carlton brands and trademarks. The Company generates most of its revenues from four primary sources: selling vacation ownership products, managing our resorts, financing consumer purchases of vacation ownership products and renting vacation ownership inventory. “

A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Marriot Vacations Worldwide Corporation from a buy rating to a hold rating in a research report on Tuesday. Stifel Nicolaus restated a buy rating and set a $130.00 price objective (up from $120.00) on shares of Marriot Vacations Worldwide Corporation in a research report on Thursday, September 21st. Janney Montgomery Scott restated a buy rating and set a $140.00 price objective on shares of Marriot Vacations Worldwide Corporation in a research report on Tuesday, August 29th. BidaskClub upgraded Marriot Vacations Worldwide Corporation from a strong sell rating to a sell rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG restated a hold rating and set a $112.00 price objective (up from $92.00) on shares of Marriot Vacations Worldwide Corporation in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Marriot Vacations Worldwide Corporation has an average rating of Hold and a consensus price target of $126.86.

Shares of Marriot Vacations Worldwide Corporation (VAC) traded up 1.33% during mid-day trading on Thursday, hitting $127.04. The stock had a trading volume of 353,266 shares. The stock’s 50-day moving average is $116.73 and its 200-day moving average is $113.12. The firm has a market capitalization of $3.43 billion, a PE ratio of 22.85 and a beta of 1.13. Marriot Vacations Worldwide Corporation has a 1-year low of $59.33 and a 1-year high of $128.75.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.34. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. The company had revenue of $497.62 million during the quarter, compared to the consensus estimate of $489.85 million. During the same period last year, the company earned $1.08 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. Equities analysts expect that Marriot Vacations Worldwide Corporation will post $5.45 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Thursday, September 21st were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.10%. Marriot Vacations Worldwide Corporation’s payout ratio is 25.18%.

Marriot Vacations Worldwide Corporation declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Marriot Vacations Worldwide Corporation news, major shareholder J W. Marriott, Jr. sold 5,962 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $114.18, for a total value of $680,741.16. Following the transaction, the insider now owns 12,144 shares of the company’s stock, valued at $1,386,601.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brian E. Miller sold 10,500 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $114.61, for a total value of $1,203,405.00. Following the completion of the transaction, the vice president now directly owns 12,058 shares in the company, valued at approximately $1,381,967.38. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of VAC. BlackRock Inc. raised its stake in shares of Marriot Vacations Worldwide Corporation by 42,912.0% in the first quarter. BlackRock Inc. now owns 2,875,350 shares of the company’s stock valued at $287,334,000 after buying an additional 2,868,665 shares during the period. FMR LLC raised its stake in shares of Marriot Vacations Worldwide Corporation by 73.1% during the 1st quarter. FMR LLC now owns 1,011,226 shares of the company’s stock valued at $101,052,000 after purchasing an additional 427,126 shares during the period. Capital Growth Management LP bought a new stake in shares of Marriot Vacations Worldwide Corporation during the 2nd quarter valued at $30,615,000. Vanguard Group Inc. raised its stake in shares of Marriot Vacations Worldwide Corporation by 10.2% during the 1st quarter. Vanguard Group Inc. now owns 1,934,276 shares of the company’s stock valued at $193,293,000 after purchasing an additional 179,768 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Marriot Vacations Worldwide Corporation by 623.5% during the 2nd quarter. Renaissance Technologies LLC now owns 117,200 shares of the company’s stock valued at $13,800,000 after purchasing an additional 101,000 shares during the period. Hedge funds and other institutional investors own 75.63% of the company’s stock.

About Marriot Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

Analyst Recommendations for Marriot Vacations Worldwide Corporation (NYSE:VAC)

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