Wells Fargo & Company MN Cuts Holdings in Marriot Vacations Worldwide Corporation (VAC)

Wells Fargo & Company MN cut its stake in Marriot Vacations Worldwide Corporation (NYSE:VAC) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,696 shares of the company’s stock after selling 1,992 shares during the quarter. Wells Fargo & Company MN owned about 0.15% of Marriot Vacations Worldwide Corporation worth $4,674,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in VAC. First Trust Advisors LP raised its position in Marriot Vacations Worldwide Corporation by 38.4% in the first quarter. First Trust Advisors LP now owns 16,064 shares of the company’s stock valued at $1,605,000 after purchasing an additional 4,460 shares during the period. US Bancorp DE raised its position in Marriot Vacations Worldwide Corporation by 6.3% in the first quarter. US Bancorp DE now owns 1,475 shares of the company’s stock valued at $147,000 after purchasing an additional 87 shares during the period. UBS Asset Management Americas Inc. raised its position in Marriot Vacations Worldwide Corporation by 39.0% in the first quarter. UBS Asset Management Americas Inc. now owns 11,562 shares of the company’s stock valued at $1,155,000 after purchasing an additional 3,245 shares during the period. Karp Capital Management Corp purchased a new position in Marriot Vacations Worldwide Corporation in the first quarter valued at about $484,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Marriot Vacations Worldwide Corporation in the first quarter valued at about $220,000. 75.63% of the stock is currently owned by institutional investors.

Shares of Marriot Vacations Worldwide Corporation (NYSE:VAC) opened at 124.77 on Friday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.44 and a beta of 1.13. The stock’s 50 day moving average price is $119.16 and its 200-day moving average price is $114.39. Marriot Vacations Worldwide Corporation has a 12 month low of $61.03 and a 12 month high of $128.75.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.34. The business had revenue of $497.62 million during the quarter, compared to analyst estimates of $489.85 million. Marriot Vacations Worldwide Corporation had a net margin of 7.90% and a return on equity of 16.96%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities analysts forecast that Marriot Vacations Worldwide Corporation will post $5.41 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Wednesday, September 20th. Marriot Vacations Worldwide Corporation’s dividend payout ratio is currently 25.18%.

Marriot Vacations Worldwide Corporation declared that its Board of Directors has approved a share buyback plan on Thursday, August 3rd that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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In other news, major shareholder J W. Marriott, Jr. sold 5,962 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $114.18, for a total transaction of $680,741.16. Following the completion of the transaction, the insider now owns 12,144 shares of the company’s stock, valued at $1,386,601.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian E. Miller sold 10,500 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $114.61, for a total transaction of $1,203,405.00. Following the transaction, the vice president now directly owns 12,058 shares of the company’s stock, valued at approximately $1,381,967.38. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by corporate insiders.

VAC has been the topic of a number of analyst reports. Zacks Investment Research raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a research report on Tuesday, August 8th. ValuEngine raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Janney Montgomery Scott reaffirmed a “buy” rating and set a $140.00 target price on shares of Marriot Vacations Worldwide Corporation in a research report on Tuesday, August 29th. BidaskClub lowered Marriot Vacations Worldwide Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, Buckingham Research initiated coverage on Marriot Vacations Worldwide Corporation in a research report on Monday, June 19th. They set a “buy” rating and a $142.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Marriot Vacations Worldwide Corporation has a consensus rating of “Hold” and an average price target of $126.86.

Marriot Vacations Worldwide Corporation Company Profile

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

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Institutional Ownership by Quarter for Marriot Vacations Worldwide Corporation (NYSE:VAC)

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