Marriot Vacations Worldwide Corporation (VAC) to Issue Quarterly Dividend of $0.35 on October 5th
Marriot Vacations Worldwide Corporation (NYSE:VAC) declared a quarterly dividend on Friday, September 8th, NASDAQ reports. Stockholders of record on Thursday, September 21st will be paid a dividend of 0.35 per share on Thursday, October 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, September 20th.
Marriot Vacations Worldwide Corporation has a payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Marriot Vacations Worldwide Corporation to earn $6.13 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.8%.
Marriot Vacations Worldwide Corporation (VAC) opened at 114.10 on Tuesday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 20.52 and a beta of 1.15. The stock has a 50 day moving average price of $113.34 and a 200 day moving average price of $110.66. Marriot Vacations Worldwide Corporation has a 12 month low of $59.33 and a 12 month high of $128.25.
Marriot Vacations Worldwide Corporation (NYSE:VAC) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.26 by $0.34. The firm had revenue of $497.62 million during the quarter, compared to analysts’ expectations of $489.85 million. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 EPS. On average, equities analysts expect that Marriot Vacations Worldwide Corporation will post $5.56 earnings per share for the current fiscal year.
Several research firms have commented on VAC. Zacks Investment Research cut Marriot Vacations Worldwide Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Telsey Advisory Group upped their price objective on Marriot Vacations Worldwide Corporation from $113.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, August 4th. BidaskClub lowered Marriot Vacations Worldwide Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, ValuEngine upgraded Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $125.43.
In related news, Director Thomas J. Hutchison III sold 3,599 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $118.15, for a total transaction of $425,221.85. Following the sale, the director now directly owns 1,281 shares in the company, valued at approximately $151,350.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Laurie A. Sullivan sold 1,407 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $121.04, for a total value of $170,303.28. Following the sale, the insider now owns 100 shares in the company, valued at $12,104. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,323 shares of company stock worth $6,399,563. 3.30% of the stock is owned by corporate insiders.
Marriot Vacations Worldwide Corporation declared that its board has approved a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Marriot Vacations Worldwide Corporation Company Profile
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.
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