Vail Resorts, Inc. (NYSE:MTN – Get Free Report) announced a quarterly dividend on Thursday, September 24th. Stockholders of record on Thursday, October 8th will be paid a dividend of $2.22 per share on Tuesday, October 27th. This represents a $8.88 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Thursday, October 8th.
Vail Resorts has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Vail Resorts has a payout ratio of 109.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Vail Resorts to earn $6.24 per share next year, which means the company may not be able to cover its $8.88 annual dividend with an expected future payout ratio of 142.3%.
Vail Resorts Price Performance
MTN opened at $139.48 on Tuesday. The business has a fifty day moving average of $143.26 and a 200 day moving average of $137.03. Vail Resorts has a 52-week low of $118.51 and a 52-week high of $163.34. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 5.57. The stock has a market cap of $4.97 billion, a P/E ratio of 33.69, a PEG ratio of 10.13 and a beta of 0.76.
Institutional Trading of Vail Resorts
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bamco Inc. NY purchased a new position in Vail Resorts during the 2nd quarter valued at about $889,971,000. BlackRock Inc. purchased a new stake in shares of Vail Resorts in the 2nd quarter worth approximately $464,712,000. Capital World Investors lifted its position in shares of Vail Resorts by 6.1% in the 4th quarter. Capital World Investors now owns 3,196,445 shares of the company’s stock worth $424,488,000 after purchasing an additional 182,982 shares during the period. Oasis Management Co Ltd. boosted its stake in shares of Vail Resorts by 8.3% during the fourth quarter. Oasis Management Co Ltd. now owns 1,851,234 shares of the company’s stock valued at $245,844,000 after purchasing an additional 141,500 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Vail Resorts by 26.0% during the first quarter. The Manufacturers Life Insurance Company now owns 976,732 shares of the company’s stock valued at $125,334,000 after purchasing an additional 201,750 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.
About Vail Resorts
Vail Resorts, Inc is a mountain resort operator that owns and manages destination ski and summer resorts, regional ski areas, hotels and other hospitality businesses. Its operations are designed to serve visitors throughout the year, with activities including skiing, snowboarding, hiking, mountain biking, lodging, dining, retail and other resort experiences.
The company’s portfolio includes well-known resorts such as Vail, Beaver Creek, Breckenridge, Keystone, Park City, Whistler Blackcomb and Stowe in North America, as well as Perisher, Falls Creek and Hotham in Australia.
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