Candriam Luxembourg S.C.A. cut its stake in Marriott International (NASDAQ:MAR) by 77.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,787 shares of the company’s stock after selling 113,856 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Marriott International were worth $3,289,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Marriott International by 2,076.2% in the first quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock worth $1,787,379,000 after buying an additional 18,106,240 shares in the last quarter. FMR LLC increased its position in shares of Marriott International by 112.2% in the first quarter. FMR LLC now owns 11,625,543 shares of the company’s stock worth $1,094,894,000 after buying an additional 6,147,789 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Marriott International by 35.5% in the first quarter. TIAA CREF Investment Management LLC now owns 2,627,606 shares of the company’s stock worth $247,468,000 after buying an additional 689,051 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Marriott International by 47.8% in the first quarter. Teachers Advisors LLC now owns 1,638,849 shares of the company’s stock worth $154,347,000 after buying an additional 530,186 shares in the last quarter. Finally, AXA increased its position in shares of Marriott International by 116.0% in the first quarter. AXA now owns 878,216 shares of the company’s stock worth $82,710,000 after buying an additional 471,716 shares in the last quarter. 67.11% of the stock is owned by institutional investors.
Shares of Marriott International (NASDAQ MAR) traded up 0.19% during trading on Friday, reaching $98.03. The company’s stock had a trading volume of 1,581,465 shares. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51. The company’s 50-day moving average is $101.75 and its 200-day moving average is $96.88. The company 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 released its earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The business’s quarterly revenue was up 48.5% compared to the same quarter last year. On average, analysts forecast that Marriott International will post $4.14 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s dividend payout ratio is presently 45.52%.
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MAR has been the subject of a number of analyst reports. Guggenheim initiated coverage on Marriott International in a report on Wednesday, April 26th. They issued a “neutral” rating for the company. Canaccord Genuity reissued a “buy” rating and issued a $113.00 price target (up previously from $100.00) on shares of Marriott International in a report on Monday, May 8th. Stifel Nicolaus reissued a “hold” rating and issued a $95.00 price target (up previously from $87.00) on shares of Marriott International in a report on Tuesday, May 9th. Instinet increased their price target on Marriott International from $100.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, Barclays PLC reissued a “hold” rating and issued a $105.00 price target on shares of Marriott International in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $100.08.
In other news, insider Juliana B. Marriott sold 8,400 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Blake Marriott sold 3,733 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $107.44, for a total transaction of $401,073.52. Following the completion of the transaction, the insider now directly owns 145,601 shares of the company’s stock, valued at $15,643,371.44. The disclosure for this sale can be found here. Insiders have sold a total of 62,622 shares of company stock valued at $6,328,408 in the last ninety days. Company insiders own 17.07% of the company’s stock.
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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