As of its most recent Form 13F filing with the Securities and Exchange Commission, Allspring Global Investments Holdings LLC has shown a noteworthy increase in its holdings in Marriott Vacations Worldwide Co. (NYSE:VAC) by an astounding 228.5% in the fourth quarter alone. This brings the fund’s total ownership of the company at 2,349 shares which is equivalent to a staggering $316,000 value by the end of the reporting period.
The consumer-focused global vacation company boasts VP Dwight D. Smith, who recently sold 2,627 shares of Marriott shares for a total transaction amounting to over $400 thousand dollars earlier this year. While the insider now directly owns 14,485 shares worth over $2 million dollars by current market value.
Marriott Vacations Worldwide opened at $139.28 on Wednesday with a market cap of $5.16 billion dollars and has seen astounding highs reaching $165.85 and lows dipping as low as $110.08 per share range within the year-to-date range (YTD). The firm’s quick ratio stands at 3.26 with cash levels enough to support their ability to service liabilities promptly should it arise.
Overall, investors have been enticed by this consumer giant’s continued profitability and impressive growth projections despite times of economic uncertainty and unforeseeable market conditions brought about by macroeconomic events beyond any companies’ control. Given such developments in both internal and external factors affecting these firms, many have resorted to taking up new strategies like holding long-term investments but also monitoring it closely to ensure they maximize their gains when situations present opportunities or minimize losses if things go wrong – and only time can tell how savvy investors fare in playing such conditions over long-drawn periods of investment horizons that could last for years or even decades yet ahead. Investors interested in risking investment capital towards Marriott Vacations Worldwide must weigh risk and rewards associated with volatility outcomes before deciding to act on any transactions.
Marriott Vacations Worldwide Continues to Attract Institutional Investors Despite Price Objective Cuts
Marriott Vacations Worldwide (NYSE: VAC) continues to draw the attention of various institutional investors, as many have increased their holdings in the company. The most recent increase came from Fifth Third Bancorp, which raised its position by 2.5% during the third quarter to own 3,625 shares worth $442,000.
Grandview Asset Management LLC and Ethic Inc. also made similar moves during the fourth quarter and first quarter respectively, raising their positions by small percentages along with other institutions such as Raymond James & Associates and Commonwealth Equity Services LLC.
However, despite the positive movement from these investors, some research firms have recently cut VAC’s price objective for the company. Jefferies Financial Group lowered its price objective from $195 to $184 while StockNews.com raised shares of Marriott Vacations Worldwide from a hold rating to a buy rating. Furthermore, Credit Suisse Group downgraded their price objective on shares of Marriott Vacations Worldwide from $219 to $214 and issued an outperform rating on February 24th.
In addition, Truist Financial increased their target price for VAC from $205 to $223 while giving it a buy rating in late February. Bank of America initiated coverage on Marriott Vacations Worldwide in early February with a neutral rating and a target price of $180.
There has been news regarding insider trading at Marriott Vacations Worldwide too – Vice President Dwight D. Smith sold 2,627 shares worth approximately $412,439 on January 23rd at an average price of $157 per share following which now he directly holds 14,485 shares into the business entity.
Marriott Vacations Worldwide’s quarterly earnings data were released on February 22nd reporting revenue of $1.19 billion compared to analysts’ expectations of $1.20 billion for that period last year since then there are predictions that they will post earnings per shareof $10.93 for the year.
Shareholders of Marriott Vacations Worldwide received a quarterly dividend of $0.72 per share on March 16th, representing an annualized dividend of $2.88 and a yield of 2.07%. The company’s current ratio is at 32.69% making it an attractive option for investors looking for income.
Overall, despite recent decreases in price objectives from some research firms, Marriott Vacation continues to be of interest to both institutional investors and shareholders alike due to its steady growth in revenue and dividends over the past several quarters.