Wedge Capital Management L L P NC Sells 18,503 Shares of Marriott Vacations Worldwide Co. (NYSE:VAC)

Wedge Capital Management L L P NC cut its stake in shares of Marriott Vacations Worldwide Co. (NYSE:VAC) by 28.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,403 shares of the company’s stock after selling 18,503 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.13% of Marriott Vacations Worldwide worth $4,052,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in VAC. Impactive Capital LP bought a new position in shares of Marriott Vacations Worldwide during the 1st quarter valued at approximately $123,613,000. Burgundy Asset Management Ltd. boosted its stake in Marriott Vacations Worldwide by 55.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,064,068 shares of the company’s stock worth $90,329,000 after purchasing an additional 377,766 shares during the period. Norges Bank bought a new position in Marriott Vacations Worldwide in the 4th quarter worth approximately $31,220,000. Capital World Investors bought a new position in Marriott Vacations Worldwide in the 4th quarter worth approximately $210,000. Finally, GRS Advisors LLC boosted its stake in Marriott Vacations Worldwide by 2,050.8% in the 4th quarter. GRS Advisors LLC now owns 242,288 shares of the company’s stock worth $20,568,000 after purchasing an additional 231,023 shares during the period. 89.52% of the stock is currently owned by institutional investors.

Marriott Vacations Worldwide Stock Performance

Shares of NYSE:VAC traded up $1.78 during trading on Thursday, hitting $71.81. The stock had a trading volume of 387,917 shares, compared to its average volume of 494,408. Marriott Vacations Worldwide Co. has a 12-month low of $68.34 and a 12-month high of $112.91. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.71 and a beta of 1.81. The company has a quick ratio of 2.62, a current ratio of 3.12 and a debt-to-equity ratio of 1.32. The stock has a 50-day simple moving average of $82.87 and a two-hundred day simple moving average of $90.86.

Marriott Vacations Worldwide (NYSE:VAC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.89). The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Marriott Vacations Worldwide had a net margin of 3.41% and a return on equity of 9.89%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.19 earnings per share. On average, equities research analysts expect that Marriott Vacations Worldwide Co. will post 6.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial dropped their price target on 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. Stifel Nicolaus dropped their price target on Marriott Vacations Worldwide from $117.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Mizuho dropped their price target on Marriott Vacations Worldwide from $128.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on Marriott Vacations Worldwide from $121.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Barclays decreased their price objective on Marriott Vacations Worldwide from $106.00 to $82.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.67.

Marriott Vacations Worldwide 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.