Bank of New York Mellon Corp Takes $49.75 Million Position in Vail Resorts, Inc. $MTN

Key Points

• Bank of New York Mellon acquired 365,398 Vail Resorts shares worth approximately $49.75 million, representing about 1.03% of the company. Institutional investors and hedge funds collectively own 94.9% of MTN.
• Analyst sentiment is mixed, with five Buy, seven Hold and three Sell ratings; the stock has an average rating of Hold and a consensus price target of $149.83.
• Vail Resorts reported quarterly revenue of $1.21 billion but missed earnings expectations, posting $8.81 per share versus $8.97 expected. The company paid a $2.22 quarterly dividend, equal to an annualized $8.88 payout and a 6.1% yield.

Bank of New York Mellon Corp bought a new stake in Vail Resorts, Inc. (NYSE:MTN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 365,398 shares of the company's stock, valued at approximately $49,749,000. Bank of New York Mellon Corp owned about 1.03% of Vail Resorts as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. BOKF NA boosted its holdings in shares of Vail Resorts by 833.3% during the third quarter. BOKF NA now owns 168 shares of the company's stock worth $25,000 after acquiring an additional 150 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Vail Resorts by 815.8% in the second quarter. EverSource Wealth Advisors LLC now owns 174 shares of the company's stock valued at $27,000 after acquiring an additional 155 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Vail Resorts by 83.3% in the fourth quarter. Golden State Wealth Management LLC now owns 220 shares of the company's stock valued at $29,000 after acquiring an additional 100 shares during the period. Danske Bank A S bought a new position in shares of Vail Resorts during the third quarter worth approximately $30,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Vail Resorts by 1,585.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 236 shares of the company's stock worth $31,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MTN shares. Truist Financial cut their price objective on shares of Vail Resorts from $212.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, June 9th. Barclays decreased their target price on shares of Vail Resorts from $138.00 to $119.00 and set an "underweight" rating on the stock in a report on Tuesday, June 9th. Zacks Research upgraded shares of Vail Resorts from a "strong sell" rating to a "hold" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Vail Resorts from $124.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, June 9th. Finally, Stifel Nicolaus decreased their price target on Vail Resorts from $172.00 to $167.00 and set a "buy" rating on the stock in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Vail Resorts currently has an average rating of "Hold" and an average price target of $149.83.

Vail Resorts Price Performance

Shares of NYSE:MTN opened at $144.68 on Friday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.79 and a current ratio of 0.91. Vail Resorts, Inc. has a 52 week low of $118.51 and a 52 week high of $165.50. The firm has a market cap of $5.15 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 9.81 and a beta of 0.70. The firm's fifty day moving average is $146.55 and its 200-day moving average is $137.14.

Vail Resorts (NYSE:MTN - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The company reported $8.81 earnings per share for the quarter, missing analysts' consensus estimates of $8.97 by ($0.16). Vail Resorts had a net margin of 5.38% and a return on equity of 21.88%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company earned $10.54 earnings per share. The business's revenue for the quarter was down 7.0% on a year-over-year basis. Sell-side analysts predict that Vail Resorts, Inc. will post 4.32 earnings per share for the current year.

Vail Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were given a dividend of $2.22 per share. The ex-dividend date was Thursday, June 25th. This represents a $8.88 annualized dividend and a dividend yield of 6.1%. Vail Resorts's dividend payout ratio is 201.82%.

Vail Resorts Profile

Vail Resorts, Inc is a leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets. The company's signature Epic Pass program offers skiers and snowboarders season‐long access to its portfolio of resorts, while ancillary services such as ski and snowboard schools, equipment rental and retail drive additional revenue.

Headquartered in Broomfield, Colorado, Vail Resorts was formed in 1997, building on the legacy of Vail Associates, which opened the Vail ski area in 1962.

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