Korea Investment CORP Sells 38,826 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Korea Investment CORP has decreased its stake in Las Vegas Sands Corp. by 13.0%, now holding 258,993 shares worth approximately $10,005,000.
• Equities analysts have generally upgraded their outlook on Las Vegas Sands, with Barclays and Macquarie raising their target prices to $58.00, and the stock currently holds an average rating of "Moderate Buy".
• Las Vegas Sands announced a quarterly dividend of $0.25 per share, representing a 1.9% annual yield, with a payout ratio of 50.51%.

Korea Investment CORP decreased its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,993 shares of the casino operator's stock after selling 38,826 shares during the period. Korea Investment CORP's holdings in Las Vegas Sands were worth $10,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Achmea Investment Management B.V. boosted its position in shares of Las Vegas Sands by 55.4% during the 1st quarter. Achmea Investment Management B.V. now owns 31,411 shares of the casino operator's stock valued at $1,213,000 after purchasing an additional 11,197 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Las Vegas Sands by 18.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,005 shares of the casino operator's stock valued at $1,489,000 after purchasing an additional 6,057 shares in the last quarter. Northern Trust Corp boosted its position in shares of Las Vegas Sands by 12.4% during the 4th quarter. Northern Trust Corp now owns 3,088,597 shares of the casino operator's stock valued at $158,630,000 after purchasing an additional 339,992 shares in the last quarter. Ground Swell Capital LLC bought a new stake in shares of Las Vegas Sands during the 1st quarter valued at about $225,000. Finally, Everett Harris & Co. CA bought a new stake in shares of Las Vegas Sands during the 1st quarter valued at about $657,000. Institutional investors own 39.16% of the company's stock.

Las Vegas Sands Stock Up 2.8%

Shares of Las Vegas Sands stock traded up $1.4920 on Friday, hitting $55.0020. The company had a trading volume of 4,015,011 shares, compared to its average volume of 4,099,417. The stock has a market capitalization of $37.76 billion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 2.08 and a beta of 1.08. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $56.60. The stock has a 50 day moving average of $49.31 and a 200-day moving average of $43.23. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.21 and a current ratio of 1.22.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 EPS for the quarter, topping the consensus estimate of $0.53 by $0.26. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $2.83 billion. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%.The company's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, sell-side analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 13th. Stockholders of record on Tuesday, August 5th were paid a $0.25 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. Las Vegas Sands's dividend payout ratio is presently 50.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LVS shares. Bank of America upped their target price on Las Vegas Sands from $52.50 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Macquarie upped their price target on Las Vegas Sands from $52.00 to $58.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on Las Vegas Sands from $47.00 to $56.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Argus raised Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 price target on the stock in a research note on Monday, July 28th. Finally, Barclays upped their price target on Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Las Vegas Sands currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.33.

About Las Vegas Sands

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.