Bank of New York Mellon Corp raised its stake in shares of Las Vegas Sands Corp. (NYSE:LVS) by 40.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,506,795 shares of the casino operator’s stock after buying an additional 1,886,376 shares during the period. Bank of New York Mellon Corp owned approximately 0.82% of Las Vegas Sands Corp. worth $415,720,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of LVS. Lee Financial Co raised its stake in Las Vegas Sands Corp. by 1.4% in the second quarter. Lee Financial Co now owns 3,091 shares of the casino operator’s stock valued at $197,000 after buying an additional 43 shares during the last quarter. Wagner Bowman Management Corp raised its stake in Las Vegas Sands Corp. by 1.1% in the second quarter. Wagner Bowman Management Corp now owns 5,666 shares of the casino operator’s stock valued at $362,000 after buying an additional 61 shares during the last quarter. Arizona State Retirement System raised its stake in Las Vegas Sands Corp. by 0.3% in the first quarter. Arizona State Retirement System now owns 36,374 shares of the casino operator’s stock valued at $2,076,000 after buying an additional 100 shares during the last quarter. North Star Investment Management Corp. raised its stake in Las Vegas Sands Corp. by 0.6% in the second quarter. North Star Investment Management Corp. now owns 15,725 shares of the casino operator’s stock valued at $1,005,000 after buying an additional 100 shares during the last quarter. Finally, Huntington National Bank raised its stake in Las Vegas Sands Corp. by 3.7% in the first quarter. Huntington National Bank now owns 3,185 shares of the casino operator’s stock valued at $182,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 38.52% of the company’s stock.
Shares of Las Vegas Sands Corp. (NYSE LVS) opened at 61.54 on Thursday. Las Vegas Sands Corp. has a 12-month low of $49.89 and a 12-month high of $66.22. The stock has a 50 day moving average of $61.81 and a 200-day moving average of $58.46. The company has a market capitalization of $48.74 billion, a P/E ratio of 23.95 and a beta of 1.81.
Las Vegas Sands Corp. (NYSE:LVS) last released its quarterly earnings data on Wednesday, July 26th. The casino operator reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. Las Vegas Sands Corp. had a net margin of 16.66% and a return on equity of 29.91%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the business earned $0.52 earnings per share. Las Vegas Sands Corp.’s revenue was up 18.5% compared to the same quarter last year. Equities research analysts forecast that Las Vegas Sands Corp. will post $2.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Wednesday, September 20th. Las Vegas Sands Corp.’s payout ratio is currently 113.18%.
LVS has been the subject of a number of analyst reports. Telsey Advisory Group increased their target price on shares of Las Vegas Sands Corp. from $58.00 to $62.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. Vetr upgraded shares of Las Vegas Sands Corp. from a “hold” rating to a “buy” rating and set a $63.09 target price for the company in a report on Wednesday, May 31st. Morgan Stanley reissued an “equal weight” rating and issued a $62.00 price target (up from $58.00) on shares of Las Vegas Sands Corp. in a research note on Monday, July 10th. Wells Fargo & Company reissued a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Wednesday, April 19th. Finally, UBS AG reissued a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Monday, July 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Las Vegas Sands Corp. presently has an average rating of “Buy” and an average price target of $63.10.
Las Vegas Sands Corp. 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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