Marriott Vacations Worldwide Co. (VAC) Holdings Lessened by State of Tennessee Treasury Department
State of Tennessee Treasury Department trimmed its holdings in Marriott Vacations Worldwide Co. (NYSE:VAC) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,718 shares of the company’s stock after selling 1,373 shares during the period. State of Tennessee Treasury Department owned about 0.08% of Marriott Vacations Worldwide worth $2,705,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in VAC. FMR LLC raised its position in shares of Marriott Vacations Worldwide by 31.0% in the 2nd quarter. FMR LLC now owns 1,324,355 shares of the company’s stock valued at $155,943,000 after purchasing an additional 313,129 shares in the last quarter. Capital Growth Management LP acquired a new stake in shares of Marriott Vacations Worldwide during the 2nd quarter valued at approximately $30,615,000. Renaissance Technologies LLC raised its position in shares of Marriott Vacations Worldwide 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 acquiring an additional 101,000 shares in the last quarter. Pathstone Family Office LLC raised its position in shares of Marriott Vacations Worldwide by 2,809.8% during the 2nd quarter. Pathstone Family Office LLC now owns 63,522 shares of the company’s stock valued at $7,480,000 after acquiring an additional 61,339 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Marriott Vacations Worldwide during the 2nd quarter valued at approximately $6,382,000. 77.34% of the stock is currently owned by institutional investors.
Marriott Vacations Worldwide Co. (NYSE VAC) opened at $135.06 on Friday. Marriott Vacations Worldwide Co. has a 52 week low of $75.70 and a 52 week high of $143.53. The stock has a market capitalization of $3,535.71, a price-to-earnings ratio of 22.02 and a beta of 1.20. The company has a quick ratio of 4.65, a current ratio of 6.64 and a debt-to-equity ratio of 1.21.
Marriott Vacations Worldwide (NYSE:VAC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.27. Marriott Vacations Worldwide had a return on equity of 17.91% and a net margin of 8.28%. The company had revenue of $486.99 million during the quarter, compared to analysts’ expectations of $470.05 million. During the same quarter in the prior year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. research analysts expect that Marriott Vacations Worldwide Co. will post 5.38 EPS for the current year.
Marriott Vacations Worldwide declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that permits the company to buyback 1,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Several research firms recently issued reports on VAC. BidaskClub raised Marriott Vacations Worldwide from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 23rd. Nomura began coverage on Marriott Vacations Worldwide in a research report on Wednesday, October 25th. They set a “buy” rating and a $151.00 price target on the stock. Deutsche Bank AG reissued a “hold” rating and set a $112.00 price target (up from $92.00) on shares of Marriott Vacations Worldwide in a research report on Wednesday, August 9th. Zacks Investment Research lowered Marriott Vacations Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Janney Montgomery Scott reissued a “buy” rating and set a $140.00 price target on shares of Marriott Vacations Worldwide in a research report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $133.22.
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In other news, major shareholder J W. Marriott, Jr. sold 5,962 shares of the 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 completion of 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.
Marriott Vacations Worldwide 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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