Marriott Vacations Worldwide (NYSE:VAC) Trading Up 16% on Better-Than-Expected Earnings

Marriott Vacations Worldwide Co. (NYSE:VAC)’s stock price rose 16% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $99.68 and last traded at $98.39. Approximately 245,724 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 457,763 shares. The stock had previously closed at $84.79.

The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.53 by $0.27. Marriott Vacations Worldwide had a return on equity of 10.94% and a net margin of 4.20%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.27 billion.

Marriott Vacations Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th were given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, September 19th. Marriott Vacations Worldwide’s dividend payout ratio is currently 57.90%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JMP Securities dropped their price target on Marriott Vacations Worldwide from $115.00 to $90.00 and set a “market outperform” rating for the company in a research report on Friday, August 2nd. Truist Financial dropped their price objective on Marriott Vacations Worldwide from $161.00 to $159.00 and set a “buy” rating for the company in a research report on Friday, July 19th. The Goldman Sachs Group started coverage on Marriott Vacations Worldwide in a research report on Wednesday, September 18th. They set a “sell” rating and a $62.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Marriott Vacations Worldwide from $121.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Barclays lifted their price objective on Marriott Vacations Worldwide from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Marriott Vacations Worldwide currently has an average rating of “Hold” and an average price target of $98.95.

Insider Activity

In related news, insider Jason P. Marino purchased 700 shares of Marriott Vacations Worldwide stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average cost of $69.00 per share, with a total value of $48,300.00. Following the transaction, the insider now owns 15,851 shares of the company’s stock, valued at approximately $1,093,719. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VAC. Allspring Global Investments Holdings LLC boosted its position in Marriott Vacations Worldwide by 615.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 286 shares of the company’s stock worth $31,000 after acquiring an additional 246 shares during the period. Quarry LP lifted its holdings in shares of Marriott Vacations Worldwide by 368.4% in the second quarter. Quarry LP now owns 445 shares of the company’s stock valued at $39,000 after buying an additional 350 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Marriott Vacations Worldwide in the third quarter valued at $39,000. Venturi Wealth Management LLC lifted its holdings in shares of Marriott Vacations Worldwide by 6,881.3% in the third quarter. Venturi Wealth Management LLC now owns 1,117 shares of the company’s stock valued at $82,000 after buying an additional 1,101 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Marriott Vacations Worldwide in the second quarter valued at $90,000. Institutional investors and hedge funds own 89.52% of the company’s stock.

Marriott Vacations Worldwide Stock Performance

The company has a debt-to-equity ratio of 2.21, a current ratio of 3.28 and a quick ratio of 2.72. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 0.79 and a beta of 1.79. The company has a fifty day moving average price of $76.08 and a two-hundred day moving average price of $82.74.

Marriott Vacations Worldwide Company Profile

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related businesses, products, and services in the United States and internationally. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management.