Marriott International Inc (NASDAQ:MAR) insider J W. Marriott, Jr. sold 35,059 shares of Marriott International stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $93.42, for a total transaction of $3,275,211.78. Following the completion of the transaction, the insider now owns 275,083 shares of the company’s stock, valued at approximately $25,698,253.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Marriott International Inc (NASDAQ:MAR) traded up 1.40% during trading on Thursday, reaching $92.77. 2,792,852 shares of the company’s stock traded hands. The company has a market capitalization of $35.58 billion, a price-to-earnings ratio of 35.14 and a beta of 1.22. Marriott International Inc has a 1-year low of $60.87 and a 1-year high of $95.42. The company has a 50 day moving average of $90.45 and a 200-day moving average of $82.03.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, February 15th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $4.67 billion. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. Equities analysts predict that Marriott International Inc will post $3.94 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, February 24th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, February 22nd. Marriott International’s payout ratio is 42.25%.
A number of hedge funds have recently modified their holdings of MAR. Israel Discount Bank of New York GFN purchased a new stake in shares of Marriott International during the fourth quarter worth approximately $116,000. Quadrant Capital Group LLC raised its stake in shares of Marriott International by 84.4% in the third quarter. Quadrant Capital Group LLC now owns 1,835 shares of the company’s stock worth $118,000 after buying an additional 840 shares during the last quarter. High Point Bank & Trust Co. raised its stake 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 during the last quarter. Synovus Financial Corp raised its stake in shares of Marriott International by 11.9% in the third quarter. Synovus Financial Corp now owns 1,880 shares of the company’s stock worth $126,000 after buying an additional 200 shares during the last quarter. Finally, Glassman Wealth Services raised its stake in shares of Marriott International by 0.3% in the fourth quarter. Glassman Wealth Services now owns 1,570 shares of the company’s stock worth $130,000 after buying an additional 5 shares during the last quarter. 64.62% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on MAR. Goldman Sachs Group Inc upgraded shares of Marriott International from a “buy” rating to a “conviction-buy” rating and lifted their price target for the stock from $87.00 to $102.00 in a research note on Thursday, January 19th. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 15th. Vetr upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating and set a $94.74 price target for the company in a research note on Thursday, February 2nd. Stifel Nicolaus lifted their price target on shares of Marriott International from $84.00 to $87.00 and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Marriott International from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Marriott International presently has a consensus rating of “Hold” and an average price target of $89.91.
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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