Impala Asset Management LLC purchased a new stake in shares of Marriott International Inc (NASDAQ:MAR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,418 shares of the company’s stock, valued at approximately $1,149,000.
Other hedge funds have also made changes to their positions in the company. Advisory Services Network LLC lifted its position in shares of Marriott International by 1,490.1% during the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after purchasing an additional 1,058 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Marriott International during the second quarter worth $133,000. First Quadrant L P CA acquired a new position in shares of Marriott International during the third quarter worth $136,000. Grove Bank & Trust lifted its position in shares of Marriott International by 214.8% during the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after purchasing an additional 840 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its position 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 worth $147,000 after purchasing an additional 843 shares in the last quarter. 66.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on MAR shares. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Stifel Nicolaus lifted their price target on shares of Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday, August 8th. UBS restated a “neutral” rating and issued a $101.00 price target (up previously from $98.00) on shares of Marriott International in a research note on Monday, August 14th. Finally, Robert W. Baird lifted their price target on shares of Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.09.
Marriott International Inc (NASDAQ MAR) opened at $127.73 on Tuesday. Marriott International Inc has a 1-year low of $80.04 and a 1-year high of $129.56. The stock has a market cap of $46,250.79, a price-to-earnings ratio of 31.02, a PEG ratio of 3.17 and a beta of 1.35. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter 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. sell-side analysts expect that Marriott International Inc will post 4.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is 35.87%.
Marriott International announced that its board has authorized a stock repurchase program on Thursday, November 9th that authorizes the company to repurchase 30,000,000 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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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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