Vail Resorts, Inc. $MTN Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its Vail Resorts stake by 26% in the first quarter, purchasing 201,750 additional shares and bringing its holdings to 976,732 shares worth approximately $125.3 million.
• Analysts remain cautious on MTN, with a consensus rating of “Hold” and an average price target of $151.45; recent firms lowered targets and one downgraded the stock to “strong sell.”
• Vail Resorts reported quarterly EPS of $8.81, below the $8.97 estimate, while revenue reached $1.21 billion but declined 7% year over year. The company announced an annualized dividend of $8.88 per share, yielding about 5.7%.

The Manufacturers Life Insurance Company boosted its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 26.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 976,732 shares of the company's stock after purchasing an additional 201,750 shares during the period. The Manufacturers Life Insurance Company owned approximately 2.74% of Vail Resorts worth $125,334,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MTN. BOKF NA raised its position in shares of Vail Resorts by 833.3% during the 3rd quarter. BOKF NA now owns 168 shares of the company's stock valued at $25,000 after buying an additional 150 shares during the period. EverSource Wealth Advisors LLC grew its position in Vail Resorts by 815.8% in the second quarter. EverSource Wealth Advisors LLC now owns 174 shares of the company's stock worth $27,000 after acquiring an additional 155 shares during the period. Golden State Wealth Management LLC grew its position in Vail Resorts by 83.3% in the fourth quarter. Golden State Wealth Management LLC now owns 220 shares of the company's stock worth $29,000 after acquiring an additional 100 shares during the period. Danske Bank A S acquired a new stake in Vail Resorts during the third quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Vail Resorts by 1,585.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 236 shares of the company's stock worth $31,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTN. Deutsche Bank Aktiengesellschaft lowered their price target on Vail Resorts from $143.00 to $134.00 and set a "hold" rating for the company in a report on Tuesday, June 9th. Barclays reduced their price objective on shares of Vail Resorts from $138.00 to $119.00 and set an "underweight" rating on the stock in a report on Tuesday, June 9th. Zacks Research lowered shares of Vail Resorts from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 28th. UBS Group reaffirmed a "neutral" rating on shares of Vail Resorts in a research note on Tuesday, June 9th. Finally, Mizuho set a $174.00 price target on shares of Vail Resorts in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $151.45.

Vail Resorts Stock Up 5.9%

Shares of MTN opened at $157.07 on Wednesday. The company's 50-day simple moving average is $139.34 and its 200-day simple moving average is $135.25. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.79 and a current ratio of 0.91. Vail Resorts, Inc. has a 1 year low of $118.51 and a 1 year high of $165.50. The stock has a market capitalization of $5.60 billion, a PE ratio of 35.70, a P/E/G ratio of 13.92 and a beta of 0.71.

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

Vail Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were given a dividend of $2.22 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $8.88 dividend on an annualized basis and a dividend yield of 5.7%. Vail Resorts's dividend payout ratio is currently 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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