Vail Resorts, Inc. (MTN) Stake Raised by New York State Common Retirement Fund
New York State Common Retirement Fund lifted its position in Vail Resorts, Inc. (NYSE:MTN) by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,757 shares of the company’s stock after buying an additional 19,564 shares during the quarter. New York State Common Retirement Fund owned approximately 0.29% of Vail Resorts worth $26,863,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in Vail Resorts in the second quarter valued at approximately $100,000. Commonwealth Bank of Australia raised its stake in Vail Resorts by 284.5% in the second quarter. Commonwealth Bank of Australia now owns 496 shares of the company’s stock valued at $100,000 after purchasing an additional 367 shares in the last quarter. Strs Ohio purchased a new stake in Vail Resorts in the second quarter valued at approximately $105,000. SG Americas Securities LLC purchased a new stake in Vail Resorts in the second quarter valued at approximately $117,000. Finally, IFP Advisors Inc raised its stake in Vail Resorts by 61.7% in the third quarter. IFP Advisors Inc now owns 802 shares of the company’s stock valued at $183,000 after purchasing an additional 306 shares in the last quarter. 94.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Vail Resorts, Inc. (NYSE MTN) traded down $0.01 during midday trading on Monday, reaching $225.49. 753,600 shares of the company’s stock were exchanged, compared to its average volume of 330,427. Vail Resorts, Inc. has a twelve month low of $158.01 and a twelve month high of $237.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.56 and a quick ratio of 0.41. The company has a market capitalization of $9,023.88, a PE ratio of 44.74 and a beta of 0.45.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 27th will be given a dividend of $1.053 per share. This represents a $4.21 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, December 26th. Vail Resorts’s payout ratio is currently 71.48%.
In other news, insider Patricia A. Campbell sold 5,515 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $222.41, for a total value of $1,226,591.15. Following the transaction, the insider now owns 28,736 shares in the company, valued at $6,391,173.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert A. Katz sold 55,976 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $220.34, for a total transaction of $12,333,751.84. Following the completion of the transaction, the chairman now owns 496,166 shares in the company, valued at approximately $109,325,216.44. The disclosure for this sale can be found here. Insiders have sold 236,742 shares of company stock worth $51,804,735 over the last quarter. Company insiders own 3.30% of the company’s stock.
MTN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Vail Resorts from a “hold” rating to a “strong-buy” rating and set a $264.00 target price on the stock in a research note on Wednesday, October 25th. Bank of America raised their target price on shares of Vail Resorts from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Barclays raised their target price on shares of Vail Resorts from $226.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, September 29th. Stifel Nicolaus increased their price target on shares of Vail Resorts from $232.00 to $235.00 and gave the company a “hold” rating in a research report on Friday. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $260.00 price target (up from $245.00) on shares of Vail Resorts in a research report on Friday, September 29th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $250.63.
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About Vail Resorts
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. Its Mountain segment operates over 10 mountain resort properties and approximately three urban ski areas, as well as ancillary services, primarily including, ski school, dining, and retail/rental operations.
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