Zurcher Kantonalbank Zurich Cantonalbank Sells 399,658 Shares of Vail Resorts, Inc. (NYSE:MTN)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank significantly reduced its stake in Vail Resorts, selling 399,658 shares, leaving them with only 9,885 shares valued at approximately $1.58 million.
• Several large investors, including Point72 Asset Management L.P. and The Manufacturers Life Insurance Company, increased their holdings in Vail Resorts by over 170% and 42% respectively, reflecting strong institutional interest.
• Vail Resorts recently declared a quarterly dividend of $2.22 per share, which represents an annualized yield of 6.0%, despite a high dividend payout ratio of 113.55%.

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 97.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,885 shares of the company's stock after selling 399,658 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Vail Resorts were worth $1,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in Vail Resorts in the 4th quarter worth about $33,000. Golden State Wealth Management LLC lifted its position in shares of Vail Resorts by 102.5% during the 1st quarter. Golden State Wealth Management LLC now owns 243 shares of the company's stock valued at $39,000 after buying an additional 123 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Vail Resorts in the 1st quarter valued at $40,000. GAMMA Investing LLC increased its holdings in Vail Resorts by 75.3% in the 1st quarter. GAMMA Investing LLC now owns 270 shares of the company's stock worth $43,000 after acquiring an additional 116 shares in the last quarter. Finally, GeoWealth Management LLC lifted its holdings in Vail Resorts by 162.2% during the fourth quarter. GeoWealth Management LLC now owns 291 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on MTN. Bank of America lifted their target price on shares of Vail Resorts from $160.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. JPMorgan Chase & Co. upgraded shares of Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 price objective for the company in a report on Wednesday, May 28th. UBS Group lowered their target price on Vail Resorts from $185.00 to $169.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Morgan Stanley reiterated an "equal weight" rating on shares of Vail Resorts in a research report on Friday, June 6th. Finally, Truist Financial reduced their price target on 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 assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $187.20.

Insider Activity

In other news, CFO Angela A. Korch purchased 200 shares of the business's stock in a transaction dated Friday, June 20th. The stock was bought at an average cost of $157.00 per share, with a total value of $31,400.00. Following the purchase, the chief financial officer directly owned 3,156 shares of the company's stock, valued at approximately $495,492. This trade represents a 6.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

Vail Resorts Stock Performance

Shares of NYSE MTN traded up $0.06 during trading on Thursday, reaching $149.10. The stock had a trading volume of 168,521 shares, compared to its average volume of 681,562. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.54 and a current ratio of 0.61. The stock has a market cap of $5.54 billion, a PE ratio of 19.08, a P/E/G ratio of 1.84 and a beta of 0.90. Vail Resorts, Inc. has a one year low of $129.85 and a one year high of $199.45. The firm's 50 day moving average price is $157.70 and its two-hundred day moving average price is $155.64.

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

Vail Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 24th were issued a $2.22 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $8.88 dividend on an annualized basis and a dividend yield of 6.0%. Vail Resorts's dividend payout ratio is currently 113.55%.

About Vail Resorts

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.