Pacad Investment Ltd. Buys Shares of 2,600 Marriot Vacations Worldwide Corporation (VAC)

Pacad Investment Ltd. bought a new position in Marriot Vacations Worldwide Corporation (NYSE:VAC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,600 shares of the company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also made changes to their positions in VAC. BlackRock Inc. boosted its holdings in shares of Marriot Vacations Worldwide Corporation by 42,912.0% in the 1st quarter. BlackRock Inc. now owns 2,875,350 shares of the company’s stock worth $287,334,000 after acquiring an additional 2,868,665 shares in the last quarter. FMR LLC boosted its holdings in shares of Marriot Vacations Worldwide Corporation by 73.1% in the 1st quarter. FMR LLC now owns 1,011,226 shares of the company’s stock worth $101,052,000 after acquiring an additional 427,126 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Marriot Vacations Worldwide Corporation by 10.2% in the 1st quarter. Vanguard Group Inc. now owns 1,934,276 shares of the company’s stock worth $193,293,000 after acquiring an additional 179,768 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Marriot Vacations Worldwide Corporation by 30.7% in the 1st quarter. Bank of New York Mellon Corp now owns 494,158 shares of the company’s stock worth $49,381,000 after acquiring an additional 116,198 shares in the last quarter. Finally, Spark Investment Management LLC boosted its holdings in shares of Marriot Vacations Worldwide Corporation by 466.1% in the 2nd quarter. Spark Investment Management LLC now owns 65,100 shares of the company’s stock worth $7,665,000 after acquiring an additional 53,600 shares in the last quarter. 75.63% of the stock is currently owned by institutional investors and hedge funds.

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Marriot Vacations Worldwide Corporation (VAC) opened at 112.08 on Friday. The firm’s 50-day moving average price is $113.65 and its 200 day moving average price is $109.58. The firm has a market cap of $3.03 billion, a P/E ratio of 20.16 and a beta of 1.15. Marriot Vacations Worldwide Corporation has a 12-month low of $59.33 and a 12-month high of $128.25.

Marriot Vacations Worldwide Corporation (NYSE:VAC) last issued its earnings results on Thursday, August 3rd. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.34. Marriot Vacations Worldwide Corporation had a net margin of 7.90% and a return on equity of 16.96%. The firm had revenue of $497.62 million for the quarter, compared to analyst estimates of $489.85 million. During the same quarter last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Analysts forecast that Marriot Vacations Worldwide Corporation will post $5.56 earnings per share for the current fiscal year.

Marriot Vacations Worldwide Corporation declared that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In other news, VP John E. Geller, Jr. sold 7,366 shares of Marriot Vacations Worldwide Corporation stock in a transaction on Monday, June 26th. The shares were sold at an average price of $119.70, for a total transaction of $881,710.20. Following the transaction, the vice president now owns 82,206 shares in the company, valued at $9,840,058.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO R. Lee Cunningham sold 15,638 shares of Marriot Vacations Worldwide Corporation stock in a transaction on Monday, June 26th. The stock was sold at an average price of $118.79, for a total transaction of $1,857,638.02. Following the transaction, the chief operating officer now owns 43,922 shares in the company, valued at approximately $5,217,494.38. The disclosure for this sale can be found here. Insiders sold 54,323 shares of company stock worth $6,399,563 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Several research analysts have recently commented on VAC shares. Zacks Investment Research downgraded Marriot Vacations Worldwide Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. ValuEngine raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Buckingham Research started coverage on Marriot Vacations Worldwide Corporation in a report on Monday, June 19th. They set a “buy” rating and a $142.00 price objective on the stock. BidaskClub raised Marriot Vacations Worldwide Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Finally, Stifel Nicolaus upped their price objective on Marriot Vacations Worldwide Corporation from $102.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Marriot Vacations Worldwide Corporation has an average rating of “Buy” and an average target price of $121.25.

About Marriot Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.

Institutional Ownership by Quarter for Marriot Vacations Worldwide Corporation (NYSE:VAC)

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