Baxter Bros Inc. raised its position in Marriott International (NASDAQ:MAR) by 29.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,635 shares of the company’s stock after buying an additional 2,640 shares during the period. Baxter Bros Inc.’s holdings in Marriott International were worth $1,167,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. increased its position in shares of Marriott International by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 205,659 shares of the company’s stock worth $17,004,000 after buying an additional 49,493 shares during the period. CENTRAL TRUST Co increased its position in shares of Marriott International by 5.1% in the first quarter. CENTRAL TRUST Co now owns 2,902 shares of the company’s stock worth $273,000 after buying an additional 140 shares during the period. Raymond James Trust N.A. acquired a new position in shares of Marriott International during the first quarter worth about $312,000. Creative Planning increased its position in shares of Marriott International by 11.9% in the first quarter. Creative Planning now owns 26,482 shares of the company’s stock worth $2,494,000 after buying an additional 2,807 shares during the period. Finally, Sheets Smith Wealth Management acquired a new position in shares of Marriott International during the first quarter worth about $223,000. 67.11% of the stock is owned by institutional investors and hedge funds.
Shares of Marriott International (NASDAQ:MAR) traded up 0.19% on Friday, hitting $98.03. The company’s stock had a trading volume of 1,581,465 shares. The stock’s 50 day moving average price is $101.75 and its 200 day moving average price is $96.88. Marriott International has a 52 week low of $65.91 and a 52 week high of $110.51. The stock has a market capitalization of $36.51 billion, a P/E ratio of 32.17 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was up 48.5% compared to the same quarter last year. On average, analysts forecast that Marriott International will post $4.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 24th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is presently 45.52%.
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Several research firms recently weighed in on MAR. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $113.00 price objective (up from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Wednesday, May 31st. Berenberg Bank reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Marriott International in a research note on Friday. Canaccord Genuity reaffirmed a “buy” rating and issued a $113.00 price objective (up from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Finally, Instinet raised their price objective on Marriott International from $100.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $100.08.
In other news, insider Juliana B. Marriott sold 8,400 shares of Marriott International stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total value of $844,284.00. Following the completion of the transaction, the insider now owns 18,000 shares of the company’s stock, valued at approximately $1,809,180. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary K. Bush sold 1,200 shares of Marriott International stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $100.89, for a total transaction of $121,068.00. Following the completion of the transaction, the director now directly owns 1,101 shares of the company’s stock, valued at approximately $111,079.89. The disclosure for this sale can be found here. In the last three months, insiders sold 62,622 shares of company stock valued at $6,328,408. Insiders own 17.07% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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