South Dakota Investment Council Acquires 27,676 Shares of Vail Resorts, Inc. $MTN

Key Points

• South Dakota Investment Council increased its Vail Resorts stake by 66.3% in the first quarter, adding 27,676 shares and bringing its holdings to 69,433 shares valued at approximately $8.91 million. Institutional investors collectively own 94.9% of MTN.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, six a Hold and three a Sell, resulting in an average rating of Hold and an average price target of $151.45.
• Vail Resorts reported quarterly revenue of $1.21 billion, slightly above estimates, but earnings of $8.81 per share missed expectations and revenue fell 7% year over year. The company pays an annualized dividend of $8.88 per share, yielding about 5.8%, though its payout ratio is elevated at 201.82%.

South Dakota Investment Council increased its holdings in Vail Resorts, Inc. (NYSE:MTN - Free Report) by 66.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,433 shares of the company's stock after acquiring an additional 27,676 shares during the period. South Dakota Investment Council owned about 0.19% of Vail Resorts worth $8,910,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Amundi boosted its stake in Vail Resorts by 98.9% during the 1st quarter. Amundi now owns 3,384 shares of the company's stock valued at $434,000 after purchasing an additional 1,683 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Vail Resorts by 22.3% in the first quarter. California State Teachers Retirement System now owns 42,136 shares of the company's stock worth $5,407,000 after purchasing an additional 7,675 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Vail Resorts by 12.8% in the first quarter. Royal Bank of Canada now owns 19,679 shares of the company's stock worth $2,525,000 after purchasing an additional 2,234 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Vail Resorts by 24.6% in the first quarter. Empowered Funds LLC now owns 37,900 shares of the company's stock valued at $4,863,000 after purchasing an additional 7,483 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Vail Resorts by 26.0% in the first quarter. The Manufacturers Life Insurance Company now owns 976,732 shares of the company's stock valued at $125,334,000 after purchasing an additional 201,750 shares in the last quarter. Institutional investors own 94.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTN. Truist Financial decreased their price target on Vail Resorts from $212.00 to $195.00 and set a "buy" rating for the company in a report on Tuesday, June 9th. Mizuho set a $174.00 price objective on Vail Resorts in a research note on Tuesday, June 9th. Zacks Research downgraded shares of Vail Resorts from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Vail Resorts in a research note on Tuesday, July 7th. Finally, UBS Group reiterated a "neutral" rating on shares of Vail Resorts in a report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $151.45.

Vail Resorts Stock Performance

MTN stock opened at $153.17 on Friday. The firm has a market cap of $5.46 billion, a PE ratio of 34.81, a P/E/G ratio of 15.02 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 3.22. The business has a 50 day moving average of $140.54 and a 200-day moving average of $135.52. Vail Resorts, Inc. has a 12-month low of $118.51 and a 12-month high of $165.50.

Vail Resorts (NYSE:MTN - Get Free Report) last issued its quarterly earnings results on Monday, June 8th. The company reported $8.81 EPS for the quarter, missing analysts' consensus estimates of $8.97 by ($0.16). Vail Resorts had a return on equity of 21.88% and a net margin of 5.38%.The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $10.54 earnings per share. The business's revenue was down 7.0% compared to the same quarter last year. As a group, sell-side analysts expect that Vail Resorts, Inc. will post 4.31 earnings per share for the current year.

Vail Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were paid a dividend of $2.22 per share. This represents a $8.88 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Thursday, June 25th. Vail Resorts's payout ratio is presently 201.82%.

Vail Resorts Profile

Vail Resorts, Inc is a leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets. The company's signature Epic Pass program offers skiers and snowboarders season‐long access to its portfolio of resorts, while ancillary services such as ski and snowboard schools, equipment rental and retail drive additional revenue.

Headquartered in Broomfield, Colorado, Vail Resorts was formed in 1997, building on the legacy of Vail Associates, which opened the Vail ski area in 1962.

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