The Manufacturers Life Insurance Company Increases Stake in Vail Resorts, Inc. $MTN

The Manufacturers Life Insurance Company lifted its stake in shares of Vail Resorts, Inc. (NYSE:MTN) by 26.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 976,732 shares of the company’s stock after buying an additional 201,750 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Vail Resorts were worth $125,334,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Vail Resorts by 15,313.2% in the fourth quarter. HighTower Advisors LLC now owns 450,066 shares of the company’s stock valued at $59,769,000 after acquiring an additional 447,146 shares in the last quarter. Norges Bank purchased a new position in Vail Resorts in the fourth quarter worth approximately $41,106,000. M&T Bank Corp acquired a new position in Vail Resorts during the 4th quarter worth approximately $28,521,000. Capital World Investors grew its holdings in Vail Resorts by 6.1% during the 4th quarter. Capital World Investors now owns 3,196,445 shares of the company’s stock worth $424,488,000 after acquiring an additional 182,982 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Vail Resorts by 41.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 554,307 shares of the company’s stock valued at $82,908,000 after purchasing an additional 161,562 shares during the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

Vail Resorts Trading Up 5.9%

Shares of Vail Resorts stock opened at $157.07 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 3.22. The company has a fifty day simple moving average of $139.34 and a 200-day simple moving average of $135.25. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 13.92 and a beta of 0.71. Vail Resorts, Inc. has a 12-month low of $118.51 and a 12-month high of $165.50.

Vail Resorts (NYSE:MTN) last announced its quarterly earnings results on Monday, June 8th. The company reported $8.81 EPS for the quarter, missing the consensus estimate of $8.97 by ($0.16). Vail Resorts had a return on equity of 21.88% and a net margin of 5.38%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $10.54 earnings per share. Vail Resorts’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts forecast that Vail Resorts, Inc. will post 4.31 EPS for the current fiscal year.

Vail Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th were issued a dividend of $2.22 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $8.88 annualized dividend and a dividend yield of 5.7%. Vail Resorts’s dividend payout ratio (DPR) is presently 201.82%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTN. UBS Group restated a “neutral” rating on shares of Vail Resorts in a report on Tuesday, June 9th. Stifel Nicolaus lowered their target price on shares of Vail Resorts from $172.00 to $167.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vail Resorts in a research note on Tuesday, July 7th. Truist Financial dropped their target price on Vail Resorts from $212.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Vail Resorts from $143.00 to $134.00 and set a “hold” rating on the stock in a research note on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vail Resorts presently has a consensus rating of “Hold” and an average target price of $151.45.

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.