BlackRock Inc. Invests $464.71 Million in Vail Resorts, Inc. $MTN

Key Points

• BlackRock acquired 3.41 million Vail Resorts shares worth approximately $464.7 million, giving it a 9.58% stake. Institutional investors collectively own 94.9% of MTN.
• Analyst sentiment is mixed, with five Buy, seven Hold and three Sell ratings; the consensus price target is $149.83.
• Vail Resorts missed quarterly earnings estimates, reporting $8.81 EPS versus $8.97 expected, while revenue rose to $1.21 billion but declined 7% year over year. The company maintained a quarterly dividend of $2.22, representing a 5.9% annualized yield.

BlackRock Inc. bought a new stake in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,413,234 shares of the company's stock, valued at approximately $464,712,000. BlackRock Inc. owned approximately 9.58% of Vail Resorts at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MTN. HighTower Advisors LLC boosted its holdings in Vail Resorts by 15,313.2% during the fourth quarter. HighTower Advisors LLC now owns 450,066 shares of the company's stock worth $59,769,000 after buying an additional 447,146 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Vail Resorts during the 2nd quarter worth about $49,749,000. Norges Bank purchased a new stake in shares of Vail Resorts during the 4th quarter worth about $41,106,000. The Manufacturers Life Insurance Company grew its position in shares of Vail Resorts by 26.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 976,732 shares of the company's stock valued at $125,334,000 after acquiring an additional 201,750 shares during the period. Finally, Capital World Investors grew its position in shares of Vail Resorts by 6.1% during the 4th quarter. Capital World Investors now owns 3,196,445 shares of the company's stock valued at $424,488,000 after acquiring an additional 182,982 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTN has been the subject of a number of analyst reports. Mizuho set a $174.00 price target on Vail Resorts in a report on Tuesday, June 9th. Stifel Nicolaus dropped their price objective on Vail Resorts from $172.00 to $167.00 and set a "buy" rating on the stock in a report on Tuesday, June 9th. JPMorgan Chase & Co. boosted their price objective on Vail Resorts from $124.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, June 9th. Truist Financial reduced their target price on Vail Resorts from $212.00 to $195.00 and set a "buy" rating for the company in a research note on Tuesday, June 9th. Finally, Barclays reduced their target price on Vail Resorts from $138.00 to $119.00 and set an "underweight" rating for the company in a research note on Tuesday, June 9th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Vail Resorts has an average rating of "Hold" and a consensus price target of $149.83.

Vail Resorts Trading Down 1.8%

Shares of Vail Resorts stock opened at $150.11 on Tuesday. The firm has a market capitalization of $5.35 billion, a PE ratio of 34.12, a P/E/G ratio of 10.08 and a beta of 0.70. Vail Resorts, Inc. has a twelve month low of $118.51 and a twelve month high of $165.50. The firm's 50-day moving average price is $145.95 and its 200 day moving average price is $136.92. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 3.22.

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

Vail Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were issued a $2.22 dividend. The ex-dividend date was Thursday, June 25th. This represents a $8.88 dividend on an annualized basis and a yield of 5.9%. Vail Resorts's dividend payout ratio (DPR) is presently 201.82%.

About Vail Resorts

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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