Bank of New York Mellon Corp Reduces Holdings in Vail Resorts, Inc. (NYSE:MTN)

Bank of New York Mellon Corp lowered its position in shares of Vail Resorts, Inc. (NYSE:MTN) by 50.3% during the second quarter, HoldingsChannel reports. The firm owned 387,292 shares of the company’s stock after selling 391,819 shares during the period. Bank of New York Mellon Corp’s holdings in Vail Resorts were worth $69,763,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Vail Resorts during the fourth quarter valued at approximately $35,000. GAMMA Investing LLC purchased a new stake in shares of Vail Resorts during the fourth quarter valued at approximately $45,000. Canton Hathaway LLC raised its stake in shares of Vail Resorts by 66.7% during the second quarter. Canton Hathaway LLC now owns 250 shares of the company’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Vail Resorts during the second quarter valued at approximately $51,000. Finally, Versant Capital Management Inc raised its stake in shares of Vail Resorts by 1,250.0% during the second quarter. Versant Capital Management Inc now owns 324 shares of the company’s stock valued at $58,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CFO Angela A. Korch purchased 575 shares of Vail Resorts stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $176.20 per share, with a total value of $101,315.00. Following the completion of the acquisition, the chief financial officer now owns 1,171 shares in the company, valued at approximately $206,330.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MTN shares. JPMorgan Chase & Co. downgraded shares of Vail Resorts from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $217.00 to $176.00 in a research report on Friday, June 7th. Morgan Stanley decreased their price target on shares of Vail Resorts from $229.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday, June 7th. Stifel Nicolaus decreased their price target on shares of Vail Resorts from $262.00 to $259.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Mizuho decreased their price target on shares of Vail Resorts from $256.00 to $231.00 and set a “buy” rating for the company in a research report on Friday, June 7th. Finally, Barclays decreased their price target on shares of Vail Resorts from $201.00 to $161.00 and set an “underweight” rating for the company in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $221.50.

Vail Resorts Stock Performance

Vail Resorts stock opened at $181.45 on Friday. The company has a market cap of $6.83 billion, a PE ratio of 24.69, a P/E/G ratio of 2.12 and a beta of 1.14. The company has a fifty day moving average price of $177.26 and a two-hundred day moving average price of $198.40. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.18 and a quick ratio of 1.08. Vail Resorts, Inc. has a 12 month low of $165.14 and a 12 month high of $254.78.

Vail Resorts (NYSE:MTN) last released its quarterly earnings data on Thursday, June 6th. The company reported $9.54 EPS for the quarter, missing analysts’ consensus estimates of $9.94 by ($0.40). Vail Resorts had a return on equity of 23.41% and a net margin of 9.59%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.31 billion. Research analysts expect that Vail Resorts, Inc. will post 6.48 earnings per share for the current year.

Vail Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 25th were issued a dividend of $2.22 per share. This represents a $8.88 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Tuesday, June 25th. Vail Resorts’s dividend payout ratio (DPR) is 120.82%.

Vail Resorts 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.