Rhumbline Advisers raised its stake in Marriott International (NASDAQ:MAR) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 565,595 shares of the company’s stock after purchasing an additional 6,952 shares during the quarter. Rhumbline Advisers owned 0.15% of Marriott International worth $62,363,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MAR. Advisory Services Network LLC lifted its position in Marriott International by 1,490.1% in the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after purchasing an additional 1,058 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Marriott International in the first quarter valued at approximately $115,000. Baker Ellis Asset Management LLC bought a new stake in Marriott International in the second quarter valued at approximately $133,000. First Quadrant L P CA purchased a new position in shares of Marriott International during the third quarter valued at approximately $136,000. Finally, Carroll Financial Associates Inc. increased its stake in shares of Marriott International by 175.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after buying an additional 843 shares during the period. Hedge funds and other institutional investors own 65.88% of the company’s stock.
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In other news, insider J W. Marriott, Jr. sold 10,376 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $102.01, for a total transaction of $1,058,455.76. Following the transaction, the insider now directly owns 229,648 shares of the company’s stock, valued at $23,426,392.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David S. Marriott sold 8,400 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now directly owns 629,136 shares in the company, valued at $63,234,459.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,327 shares of company stock worth $22,992,216. Corporate insiders own 11.32% of the company’s stock.
Several equities analysts have recently issued reports on MAR shares. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Robert W. Baird set a $103.00 target price on Marriott International and gave the company a “hold” rating in a research note on Tuesday, October 17th. UBS AG reissued a “neutral” rating and set a $101.00 target price (up from $98.00) on shares of Marriott International in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Marriott International in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $106.64.
Marriott International (NASDAQ MAR) traded up $0.28 during trading on Tuesday, reaching $120.39. The company’s stock had a trading volume of 2,387,300 shares, compared to its average volume of 2,456,233. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. Marriott International has a twelve month low of $73.46 and a twelve month high of $124.34. The company has a market capitalization of $43,789.86, a P/E ratio of 29.37, a price-to-earnings-growth ratio of 3.00 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. equities analysts expect that Marriott International will post 4.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is 35.87%.
Marriott International declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 9th that allows the company to buyback 30,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Marriott International 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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