Bank of Nova Scotia increased its position in shares of Marriott International (NASDAQ:MAR) by 914.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,041 shares of the company’s stock after buying an additional 64,938 shares during the period. Bank of Nova Scotia’s holdings in Marriott International were worth $6,785,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Creative Planning increased its stake in 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. Raymond James Trust N.A. acquired a new stake in Marriott International during the first quarter worth $312,000. CENTRAL TRUST Co increased its stake in 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. Chevy Chase Trust Holdings Inc. increased its stake in Marriott International by 2.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 318,570 shares of the company’s stock worth $30,003,000 after buying an additional 6,265 shares during the period. Finally, Renaissance Investment Group LLC acquired a new stake in Marriott International during the first quarter worth $2,738,000. Institutional investors own 67.03% of the company’s stock.
Marriott International (NASDAQ MAR) traded down 0.69% during mid-day trading on Friday, hitting $103.34. 2,005,157 shares of the stock traded hands. The stock has a market cap of $39.15 billion, a PE ratio of 36.61 and a beta of 1.35. The company has a 50 day moving average of $102.38 and a 200-day moving average of $95.04. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, May 8th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.56 billion for 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 company’s quarterly revenue was up 47.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 EPS. Equities research analysts forecast that Marriott International will post $4.04 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, May 19th were paid a $0.33 dividend. This is a boost from Marriott International’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, May 17th. Marriott International’s payout ratio is currently 47.48%.
A number of research firms have recently weighed in on MAR. Zacks Investment Research downgraded shares of Marriott International from a “buy” rating to a “hold” rating in a report on Monday, May 29th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $111.00 price target on shares of Marriott International in a research note on Friday, May 12th. Barclays PLC reaffirmed a “hold” rating and set a $105.00 price target on shares of Marriott International in a research note on Friday, May 12th. BidaskClub raised shares of Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Instinet lifted their price target on shares of Marriott International from $100.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Marriott International has an average rating of “Hold” and a consensus price target of $97.97.
In other Marriott International news, Director George Munoz sold 5,894 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $103.95, for a total transaction of $612,681.30. Following the sale, the director now directly owns 7,659 shares in the company, valued at approximately $796,153.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Rodriguez sold 10,101 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $101.30, for a total transaction of $1,023,231.30. Following the sale, the insider now owns 21,224 shares in the company, valued at $2,149,991.20. The disclosure for this sale can be found here. Insiders sold a total of 55,117 shares of company stock worth $5,685,295 over the last three months. 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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