Invesco Ltd. Cuts Position in Vail Resorts, Inc. $MTN

Key Points

• Invesco Ltd. has reduced its stake in Vail Resorts, Inc. by 14.8%, selling 10,608 shares and bringing its total ownership to approximately 0.16%.
• Vail Resorts reported earnings of $10.54 per share, exceeding analysts' expectations, with revenue for the quarter reaching $1.30 billion.
• The company also announced a quarterly dividend of $2.22 per share, representing an annual yield of 5.5%, despite a high dividend payout ratio of 113.55%.

Invesco Ltd. lowered its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,208 shares of the company's stock after selling 10,608 shares during the quarter. Invesco Ltd. owned 0.16% of Vail Resorts worth $9,795,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Bamco Inc. NY raised its position in Vail Resorts by 2.0% during the 4th quarter. Bamco Inc. NY now owns 5,290,546 shares of the company's stock worth $991,713,000 after buying an additional 105,410 shares during the last quarter. Principal Financial Group Inc. raised its position in Vail Resorts by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,654,081 shares of the company's stock worth $264,686,000 after buying an additional 5,788 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Vail Resorts by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,288,911 shares of the company's stock worth $206,252,000 after buying an additional 86,735 shares during the last quarter. TPG GP A LLC raised its position in Vail Resorts by 19.9% during the 4th quarter. TPG GP A LLC now owns 1,036,487 shares of the company's stock worth $194,289,000 after buying an additional 172,082 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Vail Resorts by 42.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 976,468 shares of the company's stock valued at $183,039,000 after purchasing an additional 289,484 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Vail Resorts Trading Down 0.1%

Vail Resorts stock traded down $0.13 during trading on Friday, hitting $163.89. The company's stock had a trading volume of 301,645 shares, compared to its average volume of 476,498. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 2.03 and a beta of 0.90. The stock's fifty day moving average is $157.94 and its 200 day moving average is $154.02. Vail Resorts, Inc. has a 1-year low of $129.85 and a 1-year high of $199.45. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.54 and a current ratio of 0.61.

Vail Resorts (NYSE:MTN - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $10.54 EPS for the quarter, beating the consensus estimate of $10.00 by $0.54. Vail Resorts had a return on equity of 30.25% and a net margin of 9.81%.The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $9.54 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Vail Resorts, Inc. will post 7.62 EPS for the current year.

Vail Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, June 24th were given a $2.22 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $8.88 annualized dividend and a dividend yield of 5.4%. Vail Resorts's dividend payout ratio (DPR) is currently 113.55%.

Insider Activity

In related news, CFO Angela A. Korch bought 200 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average cost of $157.00 per share, with a total value of $31,400.00. Following the completion of the transaction, the chief financial officer owned 3,156 shares of the company's stock, valued at approximately $495,492. The trade was a 6.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

MTN has been the subject of a number of research analyst reports. Mizuho increased their price target on shares of Vail Resorts from $215.00 to $216.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Bank of America increased their price objective on shares of Vail Resorts from $160.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Truist Financial lowered their price objective on shares of Vail Resorts from $247.00 to $244.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. JPMorgan Chase & Co. raised shares of Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 price objective on the stock in a research note on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Vail Resorts from $183.00 to $171.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $187.20.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.