M&T Bank Corp Sells 442 Shares of Vail Resorts, Inc. (NYSE:MTN)

M&T Bank Corp lessened its stake in Vail Resorts, Inc. (NYSE:MTN) by 22.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,506 shares of the company’s stock after selling 442 shares during the quarter. M&T Bank Corp’s holdings in Vail Resorts were worth $241,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in Vail Resorts by 25.5% in the first quarter. Crossmark Global Holdings Inc. now owns 2,575 shares of the company’s stock worth $412,000 after purchasing an additional 523 shares during the last quarter. VELA Investment Management LLC boosted its position in Vail Resorts by 27.5% in the first quarter. VELA Investment Management LLC now owns 2,425 shares of the company’s stock worth $388,000 after purchasing an additional 523 shares during the last quarter. Impax Asset Management Group plc boosted its position in Vail Resorts by 3.6% in the first quarter. Impax Asset Management Group plc now owns 5,144 shares of the company’s stock worth $823,000 after purchasing an additional 177 shares during the last quarter. Principal Financial Group Inc. boosted its position in Vail Resorts by 0.4% in the first quarter. Principal Financial Group Inc. now owns 1,654,081 shares of the company’s stock worth $264,686,000 after purchasing an additional 5,788 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Vail Resorts in the first quarter valued at $876,000. Institutional investors own 94.94% of the company’s stock.

Vail Resorts Price Performance

Shares of Vail Resorts stock opened at $159.27 on Friday. Vail Resorts, Inc. has a one year low of $129.85 and a one year high of $199.45. The stock’s fifty day moving average is $156.59 and its 200 day moving average is $157.89. The stock has a market cap of $5.92 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.54 and a current ratio of 0.61.

Vail Resorts (NYSE:MTN) last issued its earnings results on Thursday, June 5th. The company reported $10.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.00 by $0.54. Vail Resorts had a return on equity of 30.25% and a net margin of 9.81%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $9.54 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Vail Resorts, Inc. will post 7.62 earnings per share for the current year.

Vail Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, June 24th were given a $2.22 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $8.88 annualized dividend and a yield of 5.58%. Vail Resorts’s dividend payout ratio is currently 113.55%.

Insider Buying and Selling

In other Vail Resorts news, CFO Angela A. Korch bought 200 shares of the company’s stock in a transaction on Friday, June 20th. The stock was acquired at an average price of $157.00 per share, for a total transaction of $31,400.00. Following the completion of the transaction, the chief financial officer directly owned 3,156 shares of the company’s stock, valued at approximately $495,492. This represents a 6.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

MTN has been the topic of several research reports. Bank of America boosted their target price on Vail Resorts from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. upgraded Vail Resorts from an “underweight” rating to a “neutral” rating and set a $167.00 price objective on the stock in a research note on Wednesday, May 28th. Morgan Stanley reiterated an “equal weight” rating on shares of Vail Resorts in a research note on Friday, June 6th. UBS Group decreased their price objective on Vail Resorts from $185.00 to $169.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Vail Resorts from $183.00 to $171.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $187.20.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.