Marriott Vacations Worldwide (NYSE:VAC) Stock Rating Lowered by Bank of America

Bank of America cut shares of Marriott Vacations Worldwide (NYSE:VAC) from a neutral rating to an underperform rating in a report published on Friday, MarketBeat Ratings reports. The firm currently has $65.00 target price on the stock, down from their prior target price of $125.00.

VAC has been the subject of a number of other reports. Jefferies Financial Group cut shares of Marriott Vacations Worldwide from a buy rating to a hold rating and decreased their price objective for the company from $150.00 to $112.00 in a research report on Thursday, October 5th. Truist Financial decreased their price objective on shares of Marriott Vacations Worldwide from $187.00 to $149.00 and set a buy rating for the company in a research report on Wednesday, November 15th. StockNews.com cut shares of Marriott Vacations Worldwide from a hold rating to a sell rating in a research report on Friday, November 3rd. JPMorgan Chase & Co. began coverage on shares of Marriott Vacations Worldwide in a research report on Thursday, October 12th. They set a neutral rating and a $105.00 price target on the stock. Finally, Barclays reduced their price target on shares of Marriott Vacations Worldwide from $131.00 to $118.00 and set an overweight rating on the stock in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $135.86.

Marriott Vacations Worldwide Stock Down 1.8 %

Shares of NYSE VAC opened at $78.77 on Friday. Marriott Vacations Worldwide has a 12-month low of $75.19 and a 12-month high of $165.85. The company has a market cap of $2.80 billion, a P/E ratio of 10.64 and a beta of 1.99. The company has a current ratio of 3.28, a quick ratio of 2.72 and a debt-to-equity ratio of 2.10. The stock has a fifty day moving average price of $91.67 and a 200 day moving average price of $111.08.

Marriott Vacations Worldwide (NYSE:VAC) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.99). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. Marriott Vacations Worldwide had a net margin of 6.50% and a return on equity of 14.68%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.02 earnings per share. Research analysts anticipate that Marriott Vacations Worldwide will post 7.62 EPS for the current fiscal year.

Marriott Vacations Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $2.88 dividend on an annualized basis and a yield of 3.66%. Marriott Vacations Worldwide’s dividend payout ratio is currently 38.92%.

Hedge Funds Weigh In On Marriott Vacations Worldwide

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Marriott Vacations Worldwide by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,711,264 shares of the company’s stock worth $585,266,000 after acquiring an additional 18,944 shares during the last quarter. Senvest Management LLC increased its stake in shares of Marriott Vacations Worldwide by 5.9% in the third quarter. Senvest Management LLC now owns 2,100,786 shares of the company’s stock valued at $211,402,000 after purchasing an additional 116,823 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Marriott Vacations Worldwide by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,284,781 shares of the company’s stock valued at $157,671,000 after purchasing an additional 56,441 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Marriott Vacations Worldwide by 0.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,033,837 shares of the company’s stock valued at $139,145,000 after purchasing an additional 5,879 shares during the period. Finally, Long Pond Capital LP increased its stake in shares of Marriott Vacations Worldwide by 73.7% in the second quarter. Long Pond Capital LP now owns 687,247 shares of the company’s stock valued at $84,339,000 after purchasing an additional 291,588 shares during the period. Institutional investors own 83.27% of the company’s stock.

About Marriott Vacations Worldwide

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.