Marriott Vacations Worldwide Co. (NYSE:VAC) Stake Lifted by First Hawaiian Bank

Posted by Defense World Staff on Jul 2nd, 2023

First Hawaiian Bank lifted its holdings in Marriott Vacations Worldwide Co. (NYSE:VAC – Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,685 shares of the company’s stock after purchasing an additional 165 shares during the quarter. First Hawaiian Bank’s holdings in Marriott Vacations Worldwide were worth $497,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Marriott Vacations Worldwide in the fourth quarter worth approximately $57,540,000. Charles Schwab Investment Management Inc. lifted its position in shares of Marriott Vacations Worldwide by 27.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 444,878 shares of the company’s stock worth $70,158,000 after purchasing an additional 96,027 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Marriott Vacations Worldwide by 53.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 268,779 shares of the company’s stock worth $36,175,000 after purchasing an additional 93,302 shares in the last quarter. Weiss Multi Strategy Advisers LLC lifted its position in shares of Marriott Vacations Worldwide by 427.4% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 109,085 shares of the company’s stock worth $17,203,000 after purchasing an additional 88,403 shares in the last quarter. Finally, LSV Asset Management bought a new position in Marriott Vacations Worldwide during the fourth quarter valued at approximately $11,554,000. Institutional investors own 83.91% of the company’s stock.

Wall Street Analyst Weigh In

VAC has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Marriott Vacations Worldwide from $223.00 to $219.00 in a research report on Tuesday, May 16th. StockNews.com initiated coverage on shares of Marriott Vacations Worldwide in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.67.

Marriott Vacations Worldwide Trading Down 0.6 %

Shares of VAC stock opened at $122.72 on Friday. Marriott Vacations Worldwide Co. has a 12 month low of $113.34 and a 12 month high of $165.85. The company has a quick ratio of 2.61, a current ratio of 3.18 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $127.75 and its two-hundred day moving average is $138.50. The company has a market cap of $4.52 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.89 and a beta of 2.04.

Marriott Vacations Worldwide (NYSE:VAC – Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.84 by $0.70. Marriott Vacations Worldwide had a return on equity of 18.78% and a net margin of 8.80%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that Marriott Vacations Worldwide Co. will post 11.04 EPS for the current year.

Marriott Vacations Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 8th. Shareholders of record on Thursday, May 25th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $2.88 annualized dividend and a yield of 2.35%. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is presently 29.88%.

About Marriott Vacations Worldwide

(Free Report)

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.