Jennison Associates LLC Reduces Position in Vail Resorts, Inc. (MTN)

Jennison Associates LLC lowered its position in Vail Resorts, Inc. (NYSE:MTN) by 50.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 374,298 shares of the company’s stock after selling 373,760 shares during the period. Jennison Associates LLC owned 0.94% of Vail Resorts worth $85,385,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Swiss National Bank increased its holdings in Vail Resorts by 1.0% in the third quarter. Swiss National Bank now owns 176,200 shares of the company’s stock worth $40,195,000 after buying an additional 1,800 shares during the last quarter. Scout Investments Inc. increased its holdings in Vail Resorts by 1.6% in the third quarter. Scout Investments Inc. now owns 77,376 shares of the company’s stock worth $17,651,000 after buying an additional 1,248 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in Vail Resorts by 7.4% in the third quarter. State of Wisconsin Investment Board now owns 36,311 shares of the company’s stock worth $8,283,000 after buying an additional 2,508 shares during the last quarter. Stevens Capital Management LP acquired a new position in Vail Resorts in the third quarter worth approximately $7,245,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in Vail Resorts by 5.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 55,067 shares of the company’s stock worth $12,562,000 after buying an additional 2,910 shares during the last quarter. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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A number of equities analysts recently commented on MTN shares. Bank of America Corporation increased their price objective on Vail Resorts from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Friday. Janney Montgomery Scott restated a “buy” rating and issued a $260.00 price objective (up previously from $245.00) on shares of Vail Resorts in a report on Friday, September 29th. Stifel Nicolaus reiterated a “buy” rating and set a $232.00 price target (up previously from $229.00) on shares of Vail Resorts in a report on Monday, October 2nd. MKM Partners reiterated a “buy” rating and set a $266.00 price target (up previously from $264.00) on shares of Vail Resorts in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Vail Resorts from a “sell” rating to a “hold” rating in a report on Friday, September 29th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $250.25.

Shares of Vail Resorts, Inc. (NYSE:MTN) traded down $0.54 during mid-day trading on Monday, reaching $232.04. The company’s stock had a trading volume of 192,500 shares, compared to its average volume of 325,552. Vail Resorts, Inc. has a one year low of $153.66 and a one year high of $237.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.58 and a current ratio of 0.72. The firm has a market capitalization of $9,286.01, a P/E ratio of 43.45 and a beta of 0.48.

Vail Resorts (NYSE:MTN) last posted its quarterly earnings data on Thursday, September 28th. The company reported ($1.43) earnings per share for the quarter, beating the consensus estimate of ($1.81) by $0.38. Vail Resorts had a return on equity of 13.46% and a net margin of 11.04%. The company had revenue of $209.10 million during the quarter, compared to analysts’ expectations of $210.92 million. During the same period in the prior year, the business earned ($1.80) earnings per share. Vail Resorts’s revenue for the quarter was up 16.2% compared to the same quarter last year. sell-side analysts expect that Vail Resorts, Inc. will post 6.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Tuesday, October 10th were given a $1.053 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $4.21 annualized dividend and a dividend yield of 1.82%. Vail Resorts’s dividend payout ratio is 85.92%.

In other news, insider Patricia A. Campbell sold 5,515 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $222.41, for a total value of $1,226,591.15. Following the completion of the sale, the insider now directly owns 28,736 shares of the company’s stock, valued at $6,391,173.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert A. Katz sold 115,900 shares of the stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $218.73, for a total value of $25,350,807.00. The disclosure for this sale can be found here. Insiders sold 236,742 shares of company stock valued at $51,804,735 over the last three months. 3.30% of the stock is owned by company insiders.

About Vail Resorts

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.

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Institutional Ownership by Quarter for Vail Resorts (NYSE:MTN)

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