Arizona State Retirement System Decreases Stake in Wyndham Destinations (NYSE:WYND)
Arizona State Retirement System lowered its position in Wyndham Destinations (NYSE:WYND) by 58.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,294 shares of the company’s stock after selling 30,142 shares during the quarter. Arizona State Retirement System’s holdings in Wyndham Destinations were worth $462,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of WYND. Norges Bank purchased a new position in Wyndham Destinations in the fourth quarter worth approximately $63,442,000. LSV Asset Management lifted its position in shares of Wyndham Destinations by 12.9% during the 4th quarter. LSV Asset Management now owns 4,061,498 shares of the company’s stock worth $209,938,000 after buying an additional 463,156 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Wyndham Destinations by 87.0% during the 4th quarter. Nuveen Asset Management LLC now owns 974,522 shares of the company’s stock worth $50,373,000 after buying an additional 453,268 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wyndham Destinations by 24.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,325,270 shares of the company’s stock worth $68,504,000 after buying an additional 262,547 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Wyndham Destinations by 27.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 796,878 shares of the company’s stock worth $41,190,000 after buying an additional 171,099 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.
Shares of WYND opened at $28.42 on Friday. The stock has a market capitalization of $2.45 billion, a P/E ratio of 9.11 and a beta of 1.90. The company’s fifty day moving average is $23.26 and its two-hundred day moving average is $39.72. Wyndham Destinations has a 1 year low of $13.74 and a 1 year high of $53.13.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date is Friday, June 12th. This represents a $2.00 annualized dividend and a yield of 7.04%. Wyndham Destinations’s dividend payout ratio is currently 35.59%.
In other news, insider Michael Dean Brown acquired 4,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $25.41 per share, with a total value of $101,640.00. Insiders own 1.64% of the company’s stock.
Several brokerages have recently weighed in on WYND. Wolfe Research upgraded shares of Wyndham Destinations from a “market perform” rating to an “outperform” rating and set a $37.00 price objective for the company in a research report on Thursday, April 9th. Oppenheimer reduced their price objective on shares of Wyndham Destinations from $66.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. JPMorgan Chase & Co. upgraded shares of Wyndham Destinations from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $35.00 in a research report on Tuesday. They noted that the move was a valuation call. Cfra downgraded shares of Wyndham Destinations from a “buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, SunTrust Banks reduced their price target on shares of Wyndham Destinations from $73.00 to $44.10 and set a “buy” rating for the company in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $44.71.
Wyndham Destinations Profile
Wyndham Destinations, Inc operates as a vacation ownership and exchange company in the United States and internationally. The company operates in two segments, Vacation Ownership and Exchange & Rentals. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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