Viking Holdings Ltd. $VIK Stock: Allspring Global Investments Holdings LLC Boosts Position

Key Points

• Allspring Global Investments increased its Viking stake by 14.9% in the third quarter, adding 161,532 shares to hold about 1.25 million shares, valued at $97.6 million. Institutional investors collectively own 98.84% of the company.
• Analyst sentiment remains broadly positive: Viking has a “Moderate Buy” consensus and an average price target of $107.44, though Wells Fargo and Truist recently lowered their targets.
• Viking beat quarterly estimates, reporting EPS of $1.31 versus $1.26 expected and revenue of $2.19 billion, up 16.5% year over year. Two executives also sold shares worth about $4.1 million combined.

Allspring Global Investments Holdings LLC boosted its stake in Viking Holdings Ltd. (NYSE:VIK - Free Report) by 14.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,248,078 shares of the company's stock after acquiring an additional 161,532 shares during the period. Allspring Global Investments Holdings LLC owned 0.28% of Viking worth $97,600,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in VIK. Hohimer Wealth Management LLC increased its position in Viking by 4.8% in the third quarter. Hohimer Wealth Management LLC now owns 10,344 shares of the company's stock worth $810,000 after buying an additional 470 shares during the last quarter. StoneX Group Inc. purchased a new stake in Viking during the third quarter valued at about $269,000. Kornitzer Capital Management Inc. KS raised its position in shares of Viking by 9.6% in the third quarter. Kornitzer Capital Management Inc. KS now owns 68,800 shares of the company's stock valued at $5,389,000 after purchasing an additional 6,000 shares during the period. Axiom Investment Management LLC raised its position in shares of Viking by 87.2% in the third quarter. Axiom Investment Management LLC now owns 513 shares of the company's stock valued at $40,000 after purchasing an additional 239 shares during the period. Finally, Kestra Advisory Services LLC lifted its stake in shares of Viking by 3.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 14,000 shares of the company's stock valued at $1,097,000 after buying an additional 516 shares in the last quarter. Institutional investors own 98.84% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VIK shares. Weiss Ratings lowered Viking from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, October 19th. Truist Financial cut their target price on Viking from $102.00 to $98.00 and set a "buy" rating for the company in a research note on Thursday, September 24th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Viking in a report on Wednesday, August 26th. Benchmark upgraded Viking to a "strong-buy" rating in a research report on Friday, September 25th. Finally, Wells Fargo & Company lowered their price target on shares of Viking from $128.00 to $118.00 and set an "overweight" rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.44.

Key Viking News

Here are the key news stories impacting Viking this week:

• Positive Sentiment: Wells Fargo lowered its price target to $118 from $128 but maintained an Overweight rating. The revised target still implied 35.6% upside from the cited share price of $87.03. Wells Fargo rating information
• Negative Sentiment: A report said VIK lost 1.2% in October amid its decision to forgo many large AI bets, a potential headwind if investors favor companies making bigger AI investments. Viking loses 1.2% in October
• Negative Sentiment: Two executive vice presidents reported stock sales worth about $1.8 million and $2.3 million, respectively. Insider selling can concern investors, though the reports alone do not establish the executives’ reasons. First executive stock sale Second executive stock sale

Viking Stock Performance

NYSE:VIK opened at $87.03 on Tuesday. The stock has a market cap of $38.79 billion, a P/E ratio of 28.91, a PEG ratio of 1.10 and a beta of 1.39. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 3.61. The business's 50-day moving average price is $84.05 and its two-hundred day moving average price is $85.56. Viking Holdings Ltd. has a twelve month low of $56.67 and a twelve month high of $110.09.

Viking (NYSE:VIK - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. Viking had a return on equity of 117.98% and a net margin of 19.33%. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Viking's revenue was up 16.5% on a year-over-year basis. As a group, equities analysts predict that Viking Holdings Ltd. will post 3.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Milton Hugh sold 20,000 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $90.19, for a total value of $1,803,800.00. Following the transaction, the executive vice president owned 565,571 shares of the company's stock, valued at $51,008,848.49. This represents a 3.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Dash sold 25,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $90.23, for a total transaction of $2,255,750.00. Following the completion of the transaction, the executive vice president directly owned 395,022 shares in the company, valued at $35,642,835.06. The trade was a 5.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 65,000 shares of company stock valued at $5,770,950.

Viking Company Profile

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