Marriott Vacations Worldwide (NYSE:VAC) Trading 12.8% Higher on Better-Than-Expected Earnings

Marriott Vacations Worldwide Co. (NYSE:VAC)’s share price shot up 12.8% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $66.42 and last traded at $65.63. 157,389 shares changed hands during trading, a decline of 65% from the average session volume of 444,898 shares. The stock had previously closed at $58.20.

The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.10. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Marriott Vacations Worldwide had a net margin of 4.20% and a return on equity of 10.89%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $1.80 earnings per share.

Marriott Vacations Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Wednesday, March 5th. Marriott Vacations Worldwide’s dividend payout ratio is presently 56.23%.

Analyst Ratings Changes

Several research firms have recently weighed in on VAC. Stifel Nicolaus decreased their price target on shares of Marriott Vacations Worldwide from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group dropped their price target on Marriott Vacations Worldwide from $78.00 to $48.00 and set a “sell” rating for the company in a research report on Monday, April 14th. Barclays lowered their target price on shares of Marriott Vacations Worldwide from $116.00 to $97.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Mizuho boosted their price target on shares of Marriott Vacations Worldwide from $117.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Finally, Truist Financial lowered their price target on Marriott Vacations Worldwide from $142.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.38.

Insiders Place Their Bets

In other news, insider Stephanie Sobeck Butera purchased 650 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $71.66 per share, for a total transaction of $46,579.00. Following the completion of the transaction, the insider now directly owns 8,770 shares of the company’s stock, valued at $628,458.20. This trade represents a 8.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Marriott Vacations Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of VAC. True Wealth Design LLC increased its holdings in shares of Marriott Vacations Worldwide by 35.2% during the fourth quarter. True Wealth Design LLC now owns 595 shares of the company’s stock valued at $53,000 after acquiring an additional 155 shares in the last quarter. Pacer Advisors Inc. grew its position in Marriott Vacations Worldwide by 2.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,404 shares of the company’s stock worth $575,000 after purchasing an additional 166 shares during the period. Xponance Inc. raised its stake in Marriott Vacations Worldwide by 6.2% during the 4th quarter. Xponance Inc. now owns 3,809 shares of the company’s stock valued at $342,000 after buying an additional 221 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Marriott Vacations Worldwide by 136.5% during the 1st quarter. Fifth Third Bancorp now owns 395 shares of the company’s stock valued at $25,000 after buying an additional 228 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Marriott Vacations Worldwide by 7.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,827 shares of the company’s stock worth $246,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Marriott Vacations Worldwide Trading Up 10.4 %

The stock has a 50 day simple moving average of $60.74 and a 200-day simple moving average of $78.56. The company has a current ratio of 3.53, a quick ratio of 2.86 and a debt-to-equity ratio of 2.19. The firm has a market capitalization of $2.22 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.67 and a beta of 1.42.

Marriott Vacations Worldwide Company Profile

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related businesses, products, and services in the United States and internationally. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management.