Chevy Chase Trust Holdings LLC Reduces Position in Las Vegas Sands Corp. (NYSE:LVS)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,708 shares of the casino operator’s stock after selling 1,503 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Las Vegas Sands were worth $10,583,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its position in shares of Las Vegas Sands by 13.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 40,747 shares of the casino operator’s stock valued at $2,107,000 after purchasing an additional 4,762 shares during the period. Nordea Investment Management AB raised its position in shares of Las Vegas Sands by 27.6% during the 1st quarter. Nordea Investment Management AB now owns 891,796 shares of the casino operator’s stock valued at $46,124,000 after purchasing an additional 193,110 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Las Vegas Sands during the 1st quarter valued at $43,000. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Las Vegas Sands by 17.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,772 shares of the casino operator’s stock valued at $660,000 after purchasing an additional 1,868 shares during the period. Finally, Broad Peak Investment Holdings Ltd. increased its holdings in Las Vegas Sands by 26.1% in the 1st quarter. Broad Peak Investment Holdings Ltd. now owns 1,471,515 shares of the casino operator’s stock valued at $76,077,000 after acquiring an additional 305,000 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on LVS. Barclays reduced their price target on shares of Las Vegas Sands from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, June 7th. Citigroup lifted their price target on shares of Las Vegas Sands from $74.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Morgan Stanley lifted their price target on shares of Las Vegas Sands from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Wells Fargo & Company reduced their price target on shares of Las Vegas Sands from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average target price of $62.71.

Las Vegas Sands Trading Down 0.8 %

Shares of LVS stock traded down $0.35 during trading hours on Wednesday, reaching $41.27. 2,375,515 shares of the stock were exchanged, compared to its average volume of 5,352,374. Las Vegas Sands Corp. has a 12-month low of $41.17 and a 12-month high of $61.25. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 2.96. The company’s 50-day moving average price is $44.76 and its 200-day moving average price is $48.68. The firm has a market capitalization of $30.75 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 0.74 and a beta of 1.12.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. Las Vegas Sands had a net margin of 13.99% and a return on equity of 42.34%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company earned $0.28 EPS. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, equities analysts anticipate that Las Vegas Sands Corp. will post 2.69 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.80 annualized dividend and a yield of 1.94%. Las Vegas Sands’s dividend payout ratio (DPR) is 38.65%.

Las Vegas Sands Company Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.