Las Vegas Sands Corp. $LVS Shares Bought by State Street Corp

Key Points

• State Street increased its Las Vegas Sands stake by 6.5% in the second quarter, adding 919,452 shares to own 15.16 million shares valued at approximately $700.2 million. Institutional investors and hedge funds collectively hold 39.16% of the company.
• Analyst sentiment is mixed but leans positive: 10 analysts rate LVS a Buy, nine rate it Hold, and one rates it Sell. The consensus rating is Hold, with an average price target of $59.84.
• Las Vegas Sands reported quarterly EPS of $0.59, missing the $0.76 consensus estimate, while revenue of $3.15 billion also fell short of expectations. The company maintained a quarterly dividend of $0.30 per share, equivalent to a 3.1% annualized yield.

State Street Corp grew its holdings in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,159,570 shares of the casino operator's stock after purchasing an additional 919,452 shares during the quarter. State Street Corp owned approximately 2.34% of Las Vegas Sands worth $700,221,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Las Vegas Sands by 94.2% during the 4th quarter. Hantz Financial Services Inc. now owns 765 shares of the casino operator's stock valued at $50,000 after acquiring an additional 371 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Las Vegas Sands by 73.4% during the first quarter. Geneos Wealth Management Inc. now owns 886 shares of the casino operator's stock worth $48,000 after purchasing an additional 375 shares during the last quarter. Leonteq Securities AG purchased a new position in Las Vegas Sands during the fourth quarter worth approximately $89,000. Root Financial Partners LLC raised its stake in Las Vegas Sands by 101.3% during the first quarter. Root Financial Partners LLC now owns 1,556 shares of the casino operator's stock worth $84,000 after purchasing an additional 783 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Las Vegas Sands by 174.6% in the 2nd quarter. Covestor Ltd now owns 1,634 shares of the casino operator's stock valued at $75,000 after purchasing an additional 1,039 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on LVS shares. UBS Group set a $52.00 price objective on shares of Las Vegas Sands in a research note on Thursday, July 2nd. Susquehanna reduced their target price on Las Vegas Sands from $64.00 to $63.00 and set a "positive" rating on the stock in a report on Wednesday, July 22nd. Citigroup lowered their price target on Las Vegas Sands from $73.00 to $71.50 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Wall Street Zen lowered Las Vegas Sands from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, JPMorgan Chase & Co. cut their price objective on Las Vegas Sands from $64.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $59.84.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $39.16 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The firm has a market capitalization of $25.36 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.98 and a beta of 0.83. The firm's fifty day simple moving average is $44.93 and its 200 day simple moving average is $49.16. Las Vegas Sands Corp. has a twelve month low of $39.01 and a twelve month high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, equities research analysts expect that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.1%. Las Vegas Sands's dividend payout ratio (DPR) is currently 46.69%.

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.

Want to see what other hedge funds are holding LVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Las Vegas Sands Corp. (NYSE:LVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.