Bank of Montreal Can cut its holdings in Vail Resorts, Inc. (NYSE:MTN – Get Rating) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,573 shares of the company’s stock after selling 14,062 shares during the period. Bank of Montreal Can’s holdings in Vail Resorts were worth $7,818,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of MTN. Select Equity Group L.P. bought a new stake in Vail Resorts in the first quarter worth $117,740,000. Bank of Nova Scotia boosted its holdings in Vail Resorts by 4,328.8% during the first quarter. Bank of Nova Scotia now owns 146,505 shares of the company’s stock valued at $38,131,000 after acquiring an additional 143,197 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Vail Resorts by 369.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 158,011 shares of the company’s stock valued at $41,126,000 after acquiring an additional 124,379 shares during the period. Canada Pension Plan Investment Board bought a new stake in Vail Resorts during the first quarter valued at about $15,791,000. Finally, Bank of America Corp DE boosted its holdings in Vail Resorts by 22.9% during the first quarter. Bank of America Corp DE now owns 291,939 shares of the company’s stock valued at $75,982,000 after acquiring an additional 54,362 shares during the period. 93.13% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on MTN. StockNews.com began coverage on shares of Vail Resorts in a report on Wednesday, October 12th. They set a “hold” rating for the company. Barclays upped their price target on shares of Vail Resorts from $217.00 to $224.00 and gave the company an “underweight” rating in a report on Thursday, September 29th. Truist Financial reduced their target price on shares of Vail Resorts from $281.00 to $270.00 in a research note on Thursday, September 29th. Stifel Nicolaus reduced their target price on shares of Vail Resorts from $273.00 to $228.00 and set a “hold” rating for the company in a research note on Monday, September 26th. Finally, Credit Suisse Group reduced their target price on shares of Vail Resorts from $383.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, September 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $285.57.
Vail Resorts Stock Performance
Vail Resorts (NYSE:MTN – Get Rating) last posted its quarterly earnings results on Wednesday, September 28th. The company reported ($2.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.01) by $0.31. Vail Resorts had a net margin of 13.77% and a return on equity of 18.88%. The firm had revenue of $267.14 million during the quarter, compared to analyst estimates of $262.00 million. During the same quarter in the prior year, the business posted ($3.49) earnings per share. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. Research analysts anticipate that Vail Resorts, Inc. will post 9.15 earnings per share for the current fiscal year.
Vail Resorts Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 24th. Stockholders of record on Wednesday, October 5th were issued a dividend of $1.91 per share. This represents a $7.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Tuesday, October 4th. Vail Resorts’s payout ratio is 89.99%.
Vail Resorts Company Profile
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.
- Get a free copy of the StockNews.com research report on Vail Resorts (MTN)
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