Pictet Asset Management Ltd. raised its position in Marriott International (NASDAQ:MAR) by 62.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 602,194 shares of the company’s stock after buying an additional 231,966 shares during the period. Pictet Asset Management Ltd. owned 0.16% of Marriott International worth $56,715,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synovus Financial Corp increased its position in Marriott International by 11.9% in the third quarter. Synovus Financial Corp now owns 1,880 shares of the company’s stock valued at $126,000 after buying an additional 200 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Marriott International by 63.8% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,326 shares of the company’s stock valued at $1,772,000 after buying an additional 10,257 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in Marriott International by 26.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,718 shares of the company’s stock valued at $827,000 after buying an additional 4,331 shares during the last quarter. Nippon Life Insurance Co. increased its position in Marriott International by 66.6% in the third quarter. Nippon Life Insurance Co. now owns 25,228 shares of the company’s stock valued at $1,699,000 after buying an additional 10,085 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Marriott International by 46.5% in the third quarter. Wells Fargo & Company MN now owns 1,365,086 shares of the company’s stock valued at $91,911,000 after buying an additional 433,193 shares during the last quarter. Institutional investors own 68.33% of the company’s stock.
Shares of Marriott International (NASDAQ MAR) traded down 0.23% during mid-day trading on Friday, reaching $104.50. The company’s stock had a trading volume of 3,960,268 shares. Marriott International has a 52 week low of $60.87 and a 52 week high of $110.51. The company’s 50-day moving average is $103.08 and its 200-day moving average is $91.08. The stock has a market capitalization of $39.59 billion, a price-to-earnings ratio of 37.02 and a beta of 1.31. Marriott International also saw some unusual options trading activity on Wednesday. Investors purchased 2,559 call options on the stock. This is an increase of 966% compared to the typical volume of 240 call options.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, May 8th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.11. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Marriott International had a net margin of 4.91% and a return on equity of 38.10%. The business’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 EPS. Equities analysts predict that Marriott International will post $4.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, May 19th will be issued a dividend of $0.33 per share. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, May 17th. This represents a $1.32 annualized dividend and a dividend yield of 1.26%. Marriott International’s payout ratio is presently 47.48%.
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MAR has been the topic of several research reports. Canaccord Genuity restated a “buy” rating and set a $94.00 price objective on shares of Marriott International in a report on Thursday, February 16th. Telsey Advisory Group raised their price objective on Marriott International from $73.00 to $90.00 and gave the stock a “market perform” rating in a report on Friday, February 17th. SunTrust Banks, Inc. downgraded Marriott International from a “buy” rating to a “hold” rating and lifted their price target for the company from $75.00 to $80.00 in a report on Tuesday, February 21st. Instinet lifted their price target on Marriott International from $98.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Finally, Vetr upgraded Marriott International from a “sell” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $97.97.
In other Marriott International news, insider David Grissen sold 2,589 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $105.66, for a total value of $273,553.74. Following the transaction, the insider now owns 45,201 shares in the company, valued at approximately $4,775,937.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Blake Marriott sold 3,733 shares of the business’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 owns 145,601 shares in the company, valued at approximately $15,643,371.44. The disclosure for this sale can be found here. Insiders have sold a total of 104,029 shares of company stock worth $10,117,644 in the last 90 days. Company 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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