TD Asset Management Inc Lowers Stock Holdings in Vail Resorts, Inc. (NYSE:MTN)

Key Points

• TD Asset Management Inc reduced its stake in Vail Resorts by 16.4%, now owning 42,666 shares valued at approximately $6.83 million.
• Several analysts have adjusted their ratings for Vail Resorts, with targets ranging from $167.00 to $244.00 and a consensus rating of "Hold."
• Vail Resorts declared a quarterly dividend of $2.22 per share, yielding 5.9%, though its payout ratio stands at 113.55%.

TD Asset Management Inc lowered its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,666 shares of the company's stock after selling 8,391 shares during the period. TD Asset Management Inc owned about 0.11% of Vail Resorts worth $6,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTN. Heck Capital Advisors LLC purchased a new stake in Vail Resorts in the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC lifted its holdings in shares of Vail Resorts by 102.5% in the 1st quarter. Golden State Wealth Management LLC now owns 243 shares of the company's stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Vail Resorts in the 1st quarter worth approximately $40,000. GAMMA Investing LLC boosted its stake in shares of Vail Resorts by 75.3% in the 1st quarter. GAMMA Investing LLC now owns 270 shares of the company's stock valued at $43,000 after purchasing an additional 116 shares in the last quarter. Finally, GeoWealth Management LLC grew its holdings in shares of Vail Resorts by 162.2% during the 4th quarter. GeoWealth Management LLC now owns 291 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on MTN shares. UBS Group lowered their price target on shares of Vail Resorts from $185.00 to $169.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. JPMorgan Chase & Co. raised Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 target price for the company in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reduced their price target on Vail Resorts from $183.00 to $171.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley reiterated an "equal weight" rating on shares of Vail Resorts in a research report on Friday, June 6th. Finally, Truist Financial cut their target price on shares of Vail Resorts from $247.00 to $244.00 and set a "buy" rating on the stock in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $187.20.

Insiders Place Their Bets

In other news, CFO Angela A. Korch bought 200 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was purchased at an average price of $157.00 per share, with a total value of $31,400.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company's stock.

Vail Resorts Stock Performance

Shares of MTN stock opened at $150.15 on Friday. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.88 and a beta of 0.91. The stock has a fifty day moving average of $158.04 and a 200 day moving average of $156.55. Vail Resorts, Inc. has a 52 week low of $129.85 and a 52 week high of $199.45. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.70.

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

Vail Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 24th were given a dividend of $2.22 per share. This represents a $8.88 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Tuesday, June 24th. Vail Resorts's payout ratio is presently 113.55%.

Vail Resorts Company Profile

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.

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