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

Marriott Vacations Worldwide Co. (NYSE:VAC - Get Free Report) shot up 16% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $99.68 and last traded at $98.39. 245,724 shares changed hands during 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 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.27. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations 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 Dividend Announcement

The firm also recently announced 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 3.17%. The ex-dividend date of this dividend was Thursday, September 19th. Marriott Vacations Worldwide's dividend payout ratio is presently 72.04%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of Marriott Vacations Worldwide from a "hold" rating to a "sell" rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft cut their price target on Marriott Vacations Worldwide from $121.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group initiated coverage on Marriott Vacations Worldwide in a research note on Wednesday, September 18th. They set a "sell" rating and a $62.00 price objective for the company. JMP Securities cut their target price on Marriott Vacations Worldwide from $115.00 to $90.00 and set a "market outperform" rating on the stock in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lowered their price target on Marriott Vacations Worldwide from $108.00 to $96.50 and set a "buy" rating for the company in a research report on Friday, September 13th. 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. Based on data from MarketBeat.com, Marriott Vacations Worldwide presently has a consensus rating of "Hold" and an average target price of $96.65.

Insiders Place Their Bets

In related news, insider Jason P. Marino purchased 700 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $69.00 per share, with a total value of $48,300.00. Following the acquisition, the insider now directly owns 15,851 shares in the company, valued at $1,093,719. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Marriott Vacations Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of VAC. Verity Asset Management Inc. grew its position in Marriott Vacations Worldwide by 3.1% during the third quarter. Verity Asset Management Inc. now owns 4,303 shares of the company's stock valued at $316,000 after buying an additional 131 shares during the period. Covestor Ltd boosted its stake in shares of Marriott Vacations Worldwide by 10.5% during the 1st quarter. Covestor Ltd now owns 1,670 shares of the company's stock worth $180,000 after acquiring an additional 159 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Marriott Vacations Worldwide by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,251 shares of the company's stock valued at $371,000 after acquiring an additional 216 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Marriott Vacations Worldwide by 615.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 286 shares of the company's stock worth $31,000 after purchasing an additional 246 shares in the last quarter. Finally, Quarry LP raised its holdings in Marriott Vacations Worldwide by 368.4% in the 2nd quarter. Quarry LP now owns 445 shares of the company's stock worth $39,000 after purchasing an additional 350 shares during the period. 89.52% of the stock is owned by institutional investors.

Marriott Vacations Worldwide Stock Up 13.2 %

The company has a 50-day moving average of $75.19 and a two-hundred day moving average of $82.67. 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 company has a market capitalization of $3.37 billion, a PE ratio of 22.63, a P/E/G ratio of 0.73 and a beta of 1.79.

About Marriott Vacations Worldwide

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.