Covington Capital Management Has $1.12 Million Stake in Vail Resorts, Inc. (MTN)
Covington Capital Management lessened its position in shares of Vail Resorts, Inc. (NYSE:MTN) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,253 shares of the company’s stock after selling 255 shares during the period. Covington Capital Management’s holdings in Vail Resorts were worth $1,116,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Vail Resorts by 1.8% during the fourth quarter. BlackRock Inc. now owns 2,106,641 shares of the company’s stock worth $447,597,000 after buying an additional 36,357 shares during the last quarter. Alliancebernstein L.P. raised its stake in Vail Resorts by 7.5% during the fourth quarter. Alliancebernstein L.P. now owns 653,181 shares of the company’s stock worth $138,781,000 after buying an additional 45,742 shares during the last quarter. Jennison Associates LLC raised its stake in Vail Resorts by 62.6% during the fourth quarter. Jennison Associates LLC now owns 608,496 shares of the company’s stock worth $129,287,000 after buying an additional 234,198 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Vail Resorts by 24.4% during the third quarter. JPMorgan Chase & Co. now owns 518,066 shares of the company’s stock worth $114,902,000 after buying an additional 101,554 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Vail Resorts by 11.0% during the fourth quarter. Victory Capital Management Inc. now owns 456,038 shares of the company’s stock worth $96,894,000 after buying an additional 45,285 shares during the last quarter. 95.77% of the stock is owned by institutional investors and hedge funds.
MTN has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Vail Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Stifel Nicolaus lifted their target price on shares of Vail Resorts from $232.00 to $235.00 and gave the stock a “hold” rating in a research note on Friday, December 8th. Deutsche Bank initiated coverage on shares of Vail Resorts in a research note on Wednesday, December 13th. They set a “buy” rating and a $265.00 target price for the company. Finally, MKM Partners lowered their target price on shares of Vail Resorts to $252.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Vail Resorts has an average rating of “Buy” and a consensus target price of $250.67.
Shares of Vail Resorts, Inc. (NYSE MTN) opened at $223.06 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market cap of $9,010.00, a price-to-earnings ratio of 34.96 and a beta of 0.55. Vail Resorts, Inc. has a twelve month low of $183.85 and a twelve month high of $237.77.
Vail Resorts (NYSE:MTN) last posted its quarterly earnings results on Thursday, March 8th. The company reported $4.12 EPS for the quarter, topping analysts’ consensus estimates of $3.55 by $0.57. The business had revenue of $734.58 million during the quarter, compared to analysts’ expectations of $716.72 million. Vail Resorts had a net margin of 16.91% and a return on equity of 13.17%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $3.63 earnings per share. equities analysts predict that Vail Resorts, Inc. will post 8.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Tuesday, March 27th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 2.64%. This is a boost from Vail Resorts’s previous quarterly dividend of $1.05. The ex-dividend date is Monday, March 26th. Vail Resorts’s dividend payout ratio (DPR) is presently 65.99%.
ILLEGAL ACTIVITY WARNING: “Covington Capital Management Has $1.12 Million Stake in Vail Resorts, Inc. (MTN)” was originally reported by Daily Political and is the property of of Daily Political. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.dailypolitical.com/2018/03/15/covington-capital-management-has-1-12-million-stake-in-vail-resorts-inc-mtn.html.
Vail Resorts Profile
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. Its Mountain segment operates over 10 mountain resort properties and approximately three urban ski areas, as well as ancillary services, primarily including, ski school, dining, and retail/rental operations.
Want to see what other hedge funds are holding MTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vail Resorts, Inc. (NYSE:MTN).
Receive News & Ratings for Vail Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vail Resorts and related companies with MarketBeat.com's FREE daily email newsletter.