Ipswich Investment Management Co. Inc. decreased its position in shares of Marriott International (NASDAQ:MAR) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,998 shares of the company’s stock after selling 5,515 shares during the period. Marriott International makes up approximately 2.0% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 16th largest position. Ipswich Investment Management Co. Inc.’s holdings in Marriott International were worth $4,213,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of MAR. Oppenheimer Asset Management Inc. bought a new position in shares of Marriott International during the first quarter worth approximately $115,000. High Point Bank & Trust Co. raised its position in shares of Marriott International by 11.5% in the fourth quarter. High Point Bank & Trust Co. now owns 1,450 shares of the company’s stock worth $120,000 after buying an additional 149 shares in the last quarter. TrimTabs Asset Management LLC raised its position in shares of Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock worth $147,000 after buying an additional 736 shares in the last quarter. North Star Investment Management Corp. raised its position in shares of Marriott International by 3.3% in the second quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after buying an additional 50 shares in the last quarter. Finally, First Bank & Trust raised its position in shares of Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock worth $158,000 after buying an additional 59 shares in the last quarter. 67.11% of the stock is currently owned by institutional investors and hedge funds.
Marriott International (NASDAQ MAR) traded up 0.19% during trading on Friday, hitting $98.03. The company had a trading volume of 1,581,465 shares. The company has a market capitalization of $36.51 billion, a price-to-earnings ratio of 32.17 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $110.51. The stock has a 50-day moving average of $101.75 and a 200 day moving average of $96.88.
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. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities analysts forecast that Marriott International will post $4.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is currently 45.52%.
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Several analysts recently weighed in on MAR shares. UBS AG restated a “neutral” rating and set a $101.00 target price (up previously from $98.00) on shares of Marriott International in a research note on Monday. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Stifel Nicolaus increased their target price on Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird increased their target price on Marriott International from $101.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Marriott International presently has an average rating of “Hold” and a consensus target price of $100.08.
In other Marriott International news, EVP Anthony Capuano sold 5,000 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $100.72, for a total transaction of $503,600.00. Following the completion of the sale, the executive vice president now directly owns 56,405 shares in the company, valued at $5,681,111.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $99.84, for a total value of $2,995,200.00. Following the sale, the insider now owns 493,896 shares of the company’s stock, valued at $49,310,576.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,622 shares of company stock valued at $6,328,408. 17.07% of the stock is currently owned by corporate insiders.
About Marriott International
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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