Marriott Vacations Worldwide (NYSE:VAC) Cut to “Underperform” at Bank of America

Bank of America downgraded shares of Marriott Vacations Worldwide (NYSE:VAC) from a neutral rating to an underperform rating in a research note released on Friday, Marketbeat Ratings reports. The brokerage currently has $65.00 price objective on the stock, down from their prior price objective of $125.00.

Several other brokerages have also weighed in on VAC. Barclays cut their price objective on shares of Marriott Vacations Worldwide from $131.00 to $118.00 and set an overweight rating on the stock in a report on Wednesday, September 27th. JPMorgan Chase & Co. started coverage on shares of Marriott Vacations Worldwide in a report on Thursday, October 12th. They issued a neutral rating and a $105.00 price objective on the stock. Truist Financial cut their target price on shares of Marriott Vacations Worldwide from $187.00 to $149.00 and set a buy rating on the stock in a report on Wednesday, November 15th. Jefferies Financial Group lowered shares of Marriott Vacations Worldwide from a buy rating to a hold rating and cut their target price for the stock from $150.00 to $112.00 in a report on Thursday, October 5th. Finally, TheStreet lowered shares of Marriott Vacations Worldwide from a b- rating to a c+ rating in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $135.86.

Marriott Vacations Worldwide Trading Down 1.8 %

Shares of NYSE VAC opened at $78.77 on Friday. The company’s 50 day simple moving average is $91.67 and its 200 day simple moving average is $111.08. Marriott Vacations Worldwide has a fifty-two week low of $75.19 and a fifty-two week high of $165.85. The firm has a market capitalization of $2.80 billion, a P/E ratio of 10.64 and a beta of 1.99. The company has a debt-to-equity ratio of 2.10, a current ratio of 3.28 and a quick ratio of 2.72.

Marriott Vacations Worldwide (NYSE:VAC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.99). Marriott Vacations Worldwide had a net margin of 6.50% and a return on equity of 14.68%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $3.02 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, analysts predict that Marriott Vacations Worldwide will post 7.62 EPS for the current year.

Marriott Vacations Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Thursday, September 21st were issued a dividend of $0.72 per share. The ex-dividend date was Wednesday, September 20th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.66%. Marriott Vacations Worldwide’s payout ratio is 38.92%.

Institutional Investors Weigh In On Marriott Vacations Worldwide

A number of hedge funds and other institutional investors have recently made changes to their positions in VAC. EverSource Wealth Advisors LLC grew its position in Marriott Vacations Worldwide by 194.1% in the third quarter. EverSource Wealth Advisors LLC now owns 250 shares of the company’s stock valued at $25,000 after purchasing an additional 165 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Marriott Vacations Worldwide by 56.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 204 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in Marriott Vacations Worldwide in the second quarter valued at $31,000. Penserra Capital Management LLC bought a new position in Marriott Vacations Worldwide in the first quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in Marriott Vacations Worldwide in the second quarter valued at $49,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.

About Marriott Vacations Worldwide

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related products. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management. The company manages vacation ownership and related products under the Marriott Vacation Club, Grand Residences by Marriott, Sheraton Vacation Club, Westin Vacation Club, Hyatt Residence Club, and Marriott Vacation Club Pulse brands.