California State Teachers Retirement System decreased its position in Marriott Vacations Worldwide Corp (NYSE:VAC) by 2.2% in the 1st quarter, HoldingsChannel reports. The fund owned 59,592 shares of the company’s stock after selling 1,325 shares during the quarter. California State Teachers Retirement System’s holdings in Marriott Vacations Worldwide were worth $5,572,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc grew its position in Marriott Vacations Worldwide by 63.2% during the third quarter. Vanguard Group Inc now owns 3,428,227 shares of the company’s stock valued at $383,104,000 after buying an additional 1,327,758 shares during the period. Iridian Asset Management LLC CT purchased a new stake in Marriott Vacations Worldwide during the first quarter valued at about $114,407,000. Nantahala Capital Management LLC purchased a new stake in Marriott Vacations Worldwide during the fourth quarter valued at about $55,992,000. Prudential Financial Inc. lifted its holdings in Marriott Vacations Worldwide by 1,426.5% during the fourth quarter. Prudential Financial Inc. now owns 504,921 shares of the company’s stock valued at $35,602,000 after purchasing an additional 471,845 shares during the last quarter. Finally, Norges Bank purchased a new stake in Marriott Vacations Worldwide during the fourth quarter valued at about $27,115,000. Hedge funds and other institutional investors own 83.76% of the company’s stock.
In related news, SVP Laurie A. Sullivan sold 2,857 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $95.87, for a total value of $273,900.59. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.30% of the company’s stock.
Marriott Vacations Worldwide (NYSE:VAC) last announced its earnings results on Tuesday, May 7th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Marriott Vacations Worldwide had a net margin of 0.60% and a return on equity of 8.05%. The company’s revenue for the quarter was up 85.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. On average, analysts anticipate that Marriott Vacations Worldwide Corp will post 7.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, May 22nd. Marriott Vacations Worldwide’s dividend payout ratio is currently 30.61%.
A number of equities research analysts have recently issued reports on VAC shares. Zacks Investment Research raised shares of Marriott Vacations Worldwide from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. started coverage on shares of Marriott Vacations Worldwide in a report on Monday, June 3rd. They issued a “neutral” rating and a $98.00 price target on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $120.00 price target on shares of Marriott Vacations Worldwide in a report on Wednesday, March 20th. SunTrust Banks increased their price target on shares of Marriott Vacations Worldwide to $149.00 and gave the stock a “positive” rating in a report on Friday, March 1st. Finally, Nomura lowered their price target on shares of Marriott Vacations Worldwide from $158.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Marriott Vacations Worldwide has a consensus rating of “Hold” and an average target price of $125.63.
Marriott Vacations Worldwide Company Profile
Marriott Vacations Worldwide Corporation develops, markets, sells, and manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton, Westin, Hyatt Residence Club brands, and Marriott Vacation Club Pulse brands. The company operates through two segments, Vacation Ownership and Exchange & Third-Party Management.
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