Marriott Vacations Worldwide Co. (NYSE:VAC) Announces $0.72 Quarterly Dividend

Marriott Vacations Worldwide Co. (NYSE:VAC) declared a quarterly dividend on Thursday, September 7th, Wall Street Journal reports. Shareholders of record on Thursday, September 21st will be paid a dividend of 0.72 per share on Thursday, October 5th. This represents a $2.88 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 20th.

Marriott Vacations Worldwide has raised its dividend by an average of 10.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Marriott Vacations Worldwide has a dividend payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Marriott Vacations Worldwide to earn $10.83 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 26.6%.

Marriott Vacations Worldwide Stock Performance

NYSE VAC opened at $103.51 on Friday. The company has a fifty day moving average of $118.28 and a two-hundred day moving average of $128.05. The company has a market capitalization of $3.78 billion, a PE ratio of 11.71 and a beta of 2.02. Marriott Vacations Worldwide has a 1 year low of $102.65 and a 1 year high of $165.85. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.32 and a quick ratio of 2.73.

Marriott Vacations Worldwide (NYSE:VAC) last announced its earnings results on Wednesday, August 2nd. The company reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.62). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. Marriott Vacations Worldwide had a return on equity of 17.65% and a net margin of 7.81%. Marriott Vacations Worldwide’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $2.87 EPS. As a group, analysts expect that Marriott Vacations Worldwide will post 9.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VAC shares. Truist Financial cut their price objective on shares of Marriott Vacations Worldwide from $219.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Barclays dropped their price objective on Marriott Vacations Worldwide from $174.00 to $131.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Finally, StockNews.com started coverage on Marriott Vacations Worldwide in a report on Thursday, August 17th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.17.

Insider Activity at Marriott Vacations Worldwide

In other Marriott Vacations Worldwide news, CFO Anthony E. Terry purchased 1,800 shares of Marriott Vacations Worldwide stock in a transaction on Monday, August 7th. The shares were bought at an average price of $113.55 per share, with a total value of $204,390.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,087 shares of the company’s stock, valued at $1,486,028.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Anthony E. Terry acquired 1,800 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was acquired at an average price of $113.55 per share, with a total value of $204,390.00. Following the completion of the transaction, the chief financial officer now directly owns 13,087 shares in the company, valued at approximately $1,486,028.85. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John E. Geller, Jr. bought 5,000 shares of the stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $112.84 per share, with a total value of $564,200.00. Following the completion of the purchase, the chief executive officer now directly owns 43,323 shares in the company, valued at approximately $4,888,567.32. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Marriott Vacations Worldwide by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,711,264 shares of the company’s stock worth $585,266,000 after purchasing an additional 18,944 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Marriott Vacations Worldwide by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,033,837 shares of the company’s stock valued at $139,145,000 after acquiring an additional 5,879 shares during the period. Geode Capital Management LLC boosted its position in Marriott Vacations Worldwide by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 533,068 shares of the company’s stock worth $71,890,000 after purchasing an additional 17,049 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Marriott Vacations Worldwide by 27.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 444,878 shares of the company’s stock valued at $70,158,000 after purchasing an additional 96,027 shares in the last quarter. Finally, Norges Bank purchased a new position in Marriott Vacations Worldwide in the fourth quarter valued at about $57,540,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

Marriott Vacations Worldwide Company Profile

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.