Marriott Vacations Worldwide Co. (VAC) to Issue Quarterly Dividend of $0.79 on June 6th

Marriott Vacations Worldwide Co. (NYSE:VAC) declared a quarterly dividend on Monday, May 12th, RTT News reports. Stockholders of record on Friday, May 23rd will be given a dividend of 0.79 per share on Friday, June 6th. This represents a $3.16 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, May 23rd.

Marriott Vacations Worldwide has increased its dividend by an average of 41.7% annually over the last three years and has raised its dividend every year for the last 1 years. Marriott Vacations Worldwide has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Marriott Vacations Worldwide to earn $7.47 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 42.3%.

Marriott Vacations Worldwide Trading Down 0.7%

Shares of NYSE:VAC opened at $70.07 on Wednesday. The stock’s 50-day simple moving average is $60.75 and its two-hundred day simple moving average is $78.14. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.67 and a beta of 1.42. Marriott Vacations Worldwide has a 52-week low of $49.22 and a 52-week high of $100.32. The company has a debt-to-equity ratio of 2.19, a quick ratio of 2.86 and a current ratio of 3.53.

Marriott Vacations Worldwide (NYSE:VAC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.10. Marriott Vacations Worldwide had a net margin of 4.20% and a return on equity of 10.89%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm earned $1.80 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts expect that Marriott Vacations Worldwide will post 6.23 EPS for the current year.

Insider Activity

In other news, insider Stephanie Sobeck Butera bought 650 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $71.66 per share, for a total transaction of $46,579.00. Following the completion of the transaction, the insider now owns 8,770 shares of the company’s stock, valued at approximately $628,458.20. This represents a 8.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Marriott Vacations Worldwide

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Marriott Vacations Worldwide by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 140,662 shares of the company’s stock valued at $9,036,000 after purchasing an additional 21,623 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Marriott Vacations Worldwide by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 100,636 shares of the company’s stock valued at $6,465,000 after acquiring an additional 4,497 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Marriott Vacations Worldwide by 147.9% in the first quarter. Empowered Funds LLC now owns 8,487 shares of the company’s stock worth $545,000 after acquiring an additional 5,064 shares in the last quarter. Institutional investors own 89.52% of the company’s stock.

Analysts Set New Price Targets

VAC has been the subject of several recent research reports. Stifel Nicolaus cut their price target on Marriott Vacations Worldwide from $112.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Morgan Stanley raised shares of Marriott Vacations Worldwide from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $67.00 to $57.00 in a report on Tuesday, April 22nd. Truist Financial lowered their price target on shares of Marriott Vacations Worldwide from $142.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group upped their price target on shares of Marriott Vacations Worldwide from $48.00 to $55.00 and gave the stock a “sell” rating in a research report on Friday, May 9th. Finally, Mizuho decreased their price objective on shares of Marriott Vacations Worldwide from $112.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.25.

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.