Bank of New York Mellon Corp Decreases Stock Position in Viking Holdings Ltd. (NYSE:VIK)

Key Points

• Bank of New York Mellon Corp significantly reduced its holdings in Viking Holdings Ltd. by 86.7%, selling 163,375 shares and currently owning only 25,155 shares valued at approximately $1,000,000.
• Despite the sale, Viking has seen increased investments from other institutions, with JPMorgan Chase & Co. boosting its holdings by 883.7% in the last quarter.
• In its latest earnings report, Viking posted earnings of ($0.24) per share and revenue of $897.06 million, surpassing analyst expectations.

Bank of New York Mellon Corp lowered its stake in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) by 86.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,155 shares of the company's stock after selling 163,375 shares during the quarter. Bank of New York Mellon Corp's holdings in Viking were worth $1,000,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Viking in the fourth quarter worth about $66,000. Orion Capital Management LLC purchased a new position in shares of Viking during the fourth quarter worth approximately $110,000. Golden State Wealth Management LLC increased its stake in shares of Viking by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,300 shares of the company's stock worth $131,000 after buying an additional 1,650 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Viking by 2,135.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,001 shares of the company's stock worth $176,000 after buying an additional 3,822 shares during the period. Finally, AdvisorShares Investments LLC bought a new stake in Viking in the fourth quarter valued at $194,000. Institutional investors own 98.84% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VIK shares. Melius Research set a $51.00 target price on shares of Viking in a report on Monday, April 21st. Barclays boosted their price objective on Viking from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Morgan Stanley cut their price objective on Viking from $49.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Citigroup boosted their price objective on Viking from $57.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group cut their price objective on Viking from $51.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Viking currently has a consensus rating of "Moderate Buy" and an average price target of $53.33.

Viking Price Performance

Shares of NYSE VIK traded down $1.15 during midday trading on Friday, reaching $57.57. 2,631,158 shares of the stock traded hands, compared to its average volume of 2,533,219. The stock has a market capitalization of $25.51 billion, a PE ratio of 46.80, a P/E/G ratio of 0.67 and a beta of 2.40. Viking Holdings Ltd. has a one year low of $30.56 and a one year high of $59.97. The company's 50 day moving average is $52.38 and its 200 day moving average is $47.15.

Viking (NYSE:VIK - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. The firm had revenue of $897.06 million during the quarter, compared to the consensus estimate of $841.18 million. Viking had a negative return on equity of 128.44% and a net margin of 9.60%. The company's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.21) EPS. As a group, equities analysts forecast that Viking Holdings Ltd. will post 1.49 EPS for the current year.

Viking Profile

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.