CIBC Asset Management Inc Has $5.58 Million Stock Position in Las Vegas Sands Corp. $LVS

Key Points

• CIBC Asset Management increased its Las Vegas Sands stake by 41.3% in the fourth quarter, ending with 85,682 shares valued at about $5.58 million.
• Las Vegas Sands reported a strong quarter, with EPS of $0.91 and revenue of $3.59 billion, both ahead of analyst expectations. Revenue rose 25.3% year over year.
• Wall Street remains constructive on the stock: analysts have a Moderate Buy consensus with an average price target of $67.91, while the company also pays a quarterly dividend of $0.30 per share.

CIBC Asset Management Inc increased its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 41.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,682 shares of the casino operator's stock after buying an additional 25,056 shares during the quarter. CIBC Asset Management Inc's holdings in Las Vegas Sands were worth $5,577,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Las Vegas Sands by 18.7% during the 4th quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator's stock worth $513,757,000 after buying an additional 1,246,206 shares during the period. Norges Bank acquired a new position in Las Vegas Sands during the 4th quarter worth approximately $364,892,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Las Vegas Sands by 43.8% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,454,013 shares of the casino operator's stock worth $293,371,000 after buying an additional 1,660,823 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Las Vegas Sands by 410.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator's stock worth $277,963,000 after buying an additional 4,154,753 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Las Vegas Sands by 5.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,723,494 shares of the casino operator's stock worth $200,335,000 after buying an additional 187,389 shares during the period. 39.16% of the stock is owned by institutional investors and hedge funds.

Las Vegas Sands Stock Performance

Shares of LVS opened at $50.30 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. The company has a market capitalization of $33.33 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.14 and a beta of 0.81. The stock has a 50 day moving average of $52.87 and a 200 day moving average of $57.87. Las Vegas Sands Corp. has a 12 month low of $40.03 and a 12 month high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.15. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.Las Vegas Sands's revenue was up 25.3% on a year-over-year basis. During the same period last year, the business posted $0.59 earnings per share. As a group, sell-side analysts forecast that Las Vegas Sands Corp. will post 3.38 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Tuesday, May 5th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, May 5th. Las Vegas Sands's dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analysts Forecast Growth

LVS has been the topic of a number of research reports. Mizuho upped their price target on Las Vegas Sands from $65.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Stifel Nicolaus increased their price objective on Las Vegas Sands from $72.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Las Vegas Sands from $77.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Seaport Research Partners lowered their price objective on Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Finally, Citigroup increased their price objective on Las Vegas Sands from $76.75 to $78.50 and gave the stock a "buy" rating in a research note on Monday, April 13th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $67.91.

Insider Activity at Las Vegas Sands

In related news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the completion of the sale, the chief executive officer directly owned 511,942 shares of the company's stock, valued at approximately $28,028,824.50. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.55% of the company's stock.

Las Vegas Sands Company Profile

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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