Ameriprise Financial Inc. reduced its position in Marriott International (NASDAQ:MAR) by 60.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,983 shares of the company’s stock after selling 1,453,855 shares during the period. Ameriprise Financial Inc. owned about 0.25% of Marriott International worth $94,093,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in Marriott International in the 1st quarter valued at approximately $115,000. Baker Ellis Asset Management LLC purchased a new position in Marriott International in the 2nd quarter valued at approximately $133,000. TrimTabs Asset Management LLC increased its stake in Marriott International by 89.1% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock valued at $147,000 after purchasing an additional 736 shares in the last quarter. North Star Investment Management Corp. increased its stake in Marriott International by 3.3% in the 2nd quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock valued at $159,000 after purchasing an additional 50 shares in the last quarter. Finally, Regal Wealth Group Inc. increased its stake in Marriott International by 0.3% in the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock valued at $164,000 after purchasing an additional 5 shares in the last quarter. 65.88% of the stock is owned by hedge funds and other institutional investors.
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In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the transaction, the insider now owns 493,896 shares in the company, valued at $49,310,576.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider J W. Marriott, Jr. sold 26,362 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $101.78, for a total value of $2,683,124.36. Following the transaction, the insider now owns 203,286 shares in the company, valued at approximately $20,690,449.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,191 shares of company stock worth $9,512,282. Insiders own 11.32% of the company’s stock.
Several research firms recently weighed in on MAR. Robert W. Baird reaffirmed a “hold” rating and issued a $103.00 price objective on shares of Marriott International in a research note on Sunday. BidaskClub raised Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. UBS AG reaffirmed a “neutral” rating and issued a $101.00 price objective (up from $98.00) on shares of Marriott International in a research note on Monday, August 14th. Zacks Investment Research downgraded Marriott International from a “buy” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $109.00 price objective (up from $92.00) on shares of Marriott International in a research note on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Marriott International has an average rating of “Hold” and an average price target of $100.81.
Shares of Marriott International (NASDAQ MAR) opened at 105.39 on Monday. The stock’s 50 day moving average price is $102.39 and its 200 day moving average price is $99.03. The firm has a market cap of $39.25 billion, a PE ratio of 34.59 and a beta of 1.36. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue was up 48.5% compared to the same quarter last year. On average, equities research analysts predict that Marriott International will post $4.13 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 paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.25%. Marriott International’s payout ratio is 45.52%.
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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