Marriott Vacations Worldwide (NYSE:VAC) Trading 16% Higher on Strong Earnings

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

The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.27. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Marriott Vacations Worldwide had a return on equity of 9.89% and a net margin of 3.41%.

Marriott Vacations Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a $0.76 dividend. The ex-dividend date was Thursday, September 19th. This represents a $3.04 annualized dividend and a yield of 3.17%. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is presently 72.04%.

Analysts Set New Price Targets

VAC has been the subject of several recent analyst reports. JMP Securities lowered their price objective on shares of Marriott Vacations Worldwide from $115.00 to $90.00 and set a “market outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their price target on shares of Marriott Vacations Worldwide from $161.00 to $159.00 and set a “buy” rating for the company in a research note on Friday, July 19th. StockNews.com downgraded shares of Marriott Vacations Worldwide from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Stifel Nicolaus decreased their price target on shares of Marriott Vacations Worldwide from $108.00 to $96.50 and set a “buy” rating for the company in a research note on Friday, September 13th. Finally, Barclays decreased their price target on shares of Marriott Vacations Worldwide from $82.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.65.

Insider Transactions at Marriott Vacations Worldwide

In other Marriott Vacations Worldwide news, insider Jason P. Marino purchased 700 shares of Marriott Vacations Worldwide stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $69.00 per share, for a total transaction of $48,300.00. Following the transaction, the insider now directly owns 15,851 shares in the company, valued at $1,093,719. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Marriott Vacations Worldwide

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

Marriott Vacations Worldwide Trading Up 13.2 %

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 business’s fifty day simple moving average is $75.64 and its 200 day simple moving average is $82.76. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 0.73 and a beta of 1.79.

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.