TIAA CREF Investment Management LLC increased its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 40.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,937,858 shares of the casino operator’s stock after purchasing an additional 562,874 shares during the period. TIAA CREF Investment Management LLC owned 0.25% of Las Vegas Sands worth $134,662,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Las Vegas Sands by 1.1% during the 4th quarter. BlackRock Inc. now owns 16,452,780 shares of the casino operator’s stock worth $1,143,302,000 after purchasing an additional 173,274 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Las Vegas Sands by 25.0% in the 3rd quarter. Janus Henderson Group PLC now owns 4,051,823 shares of the casino operator’s stock valued at $259,973,000 after acquiring an additional 810,373 shares during the last quarter. Yellowstone Partners LLC acquired a new stake in Las Vegas Sands in the 3rd quarter valued at about $640,000. Levin Capital Strategies L.P. acquired a new stake in Las Vegas Sands in the 4th quarter valued at about $250,000. Finally, Westfield Capital Management Co. LP acquired a new stake in Las Vegas Sands in the 3rd quarter valued at about $327,000. Hedge funds and other institutional investors own 38.68% of the company’s stock.
Shares of Las Vegas Sands Corp. (NYSE LVS) opened at $75.05 on Friday. Las Vegas Sands Corp. has a one year low of $54.71 and a one year high of $79.84. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The firm has a market cap of $58,984.68, a P/E ratio of 21.20 and a beta of 1.72.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, January 24th. The casino operator reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.11. Las Vegas Sands had a net margin of 21.78% and a return on equity of 33.90%. The business had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. sell-side analysts forecast that Las Vegas Sands Corp. will post 3.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 22nd will be paid a $0.75 dividend. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 21st. This represents a $3.00 annualized dividend and a dividend yield of 4.00%. Las Vegas Sands’s dividend payout ratio is 82.49%.
A number of research firms have commented on LVS. Zacks Investment Research downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Bank of America increased their price objective on shares of Las Vegas Sands from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. increased their price objective on shares of Las Vegas Sands from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $88.00 price objective (up previously from $76.00) on shares of Las Vegas Sands in a report on Thursday, January 25th. Finally, Jefferies Group began coverage on shares of Las Vegas Sands in a report on Thursday, January 18th. They issued a “hold” rating and a $73.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $72.23.
In other news, COO Robert G. Goldstein sold 39,155 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $76.00, for a total value of $2,975,780.00. Following the completion of the sale, the chief operating officer now owns 39,155 shares of the company’s stock, valued at approximately $2,975,780. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.10% of the company’s stock.
Las Vegas Sands Company Profile
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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