California State Teachers Retirement System Purchases 23,001,830 Shares of Las Vegas Sands Corp. $LVS

Key Points

• California State Teachers Retirement System increased its Las Vegas Sands position by 4,502.5%, purchasing 23,001,830 additional shares and ending the quarter with a 3.63% stake worth approximately $1.09 billion.
• Las Vegas Sands reported quarterly EPS of $0.59, below the $0.76 analyst consensus, while revenue of $3.15 billion also missed estimates and declined 0.7% year over year.
• The company maintains a quarterly dividend of $0.30 per share, equivalent to a 2.8% yield; analysts hold a consensus “Hold” rating with an average price target of $61.88.

California State Teachers Retirement System lifted its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 4,502.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,512,696 shares of the casino operator's stock after buying an additional 23,001,830 shares during the period. California State Teachers Retirement System owned about 3.63% of Las Vegas Sands worth $1,086,051,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LVS. Mackenzie Financial Corp raised its holdings in shares of Las Vegas Sands by 0.3% in the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock valued at $2,902,000 after purchasing an additional 156 shares during the last quarter. Parallel Advisors LLC grew its position in Las Vegas Sands by 7.8% in the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock valued at $132,000 after purchasing an additional 177 shares in the last quarter. &PARTNERS increased its stake in Las Vegas Sands by 3.2% in the 4th quarter. &PARTNERS now owns 6,930 shares of the casino operator's stock valued at $453,000 after buying an additional 214 shares during the last quarter. Pension & Wealth Management Advisors Inc. increased its stake in Las Vegas Sands by 13.9% in the 2nd quarter. Pension & Wealth Management Advisors Inc. now owns 2,012 shares of the casino operator's stock valued at $93,000 after buying an additional 245 shares during the last quarter. Finally, United Capital Financial Advisors LLC lifted its position in Las Vegas Sands by 5.5% during the 3rd quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator's stock worth $266,000 after buying an additional 258 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $42.88 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 15.27. The business's 50 day moving average price is $45.79 and its two-hundred day moving average price is $50.06. The company has a market cap of $27.77 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83. Las Vegas Sands Corp. has a twelve month low of $42.11 and a twelve month high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The business's quarterly revenue was down .7% on a year-over-year basis. On average, analysts predict that Las Vegas Sands Corp. will post 3.09 EPS for the current year.

Las Vegas Sands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.20 annualized dividend and a yield of 2.8%. Las Vegas Sands's dividend payout ratio (DPR) is currently 46.69%.

Analyst Ratings Changes

Several research firms recently issued reports on LVS. Barclays dropped their target price on Las Vegas Sands from $63.00 to $59.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Argus downgraded Las Vegas Sands from a "buy" rating to a "hold" rating in a research note on Thursday, July 30th. The Goldman Sachs Group lowered their price target on Las Vegas Sands from $63.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. UBS Group set a $52.00 price objective on Las Vegas Sands in a research note on Thursday, July 2nd. Finally, Mizuho cut their price objective on Las Vegas Sands from $67.00 to $61.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Las Vegas Sands has a consensus rating of "Hold" and a consensus target price of $61.88.

Las Vegas Sands Profile

Las Vegas Sands Corp. NYSE: LVS develops and operates integrated resorts that combine casino gaming with hotels, convention and meeting facilities, dining, retail, entertainment and other leisure offerings. The company primarily serves international tourism, business travel and premium gaming markets.

Las Vegas Sands' principal properties are Marina Bay Sands in Singapore and a portfolio of integrated resorts in Macao, including The Venetian Macao, The Londoner Macao, The Parisian Macao and Four Seasons Hotel Macao.

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