Renaissance Investment Group LLC Grows Holdings in Marriott International Inc (MAR)

Renaissance Investment Group LLC raised its position in Marriott International Inc (NASDAQ:MAR) by 3.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 35,290 shares of the company’s stock after acquiring an additional 1,025 shares during the period. Marriott International comprises 1.9% of Renaissance Investment Group LLC’s portfolio, making the stock its 25th biggest position. Renaissance Investment Group LLC’s holdings in Marriott International were worth $4,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAR. FMR LLC increased its position in shares of Marriott International by 32.5% during the 2nd quarter. FMR LLC now owns 15,406,182 shares of the company’s stock worth $1,545,394,000 after purchasing an additional 3,780,639 shares during the last quarter. Capital Research Global Investors increased its position in shares of Marriott International by 7.2% during the 2nd quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock worth $1,280,257,000 after purchasing an additional 862,710 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Marriott International by 1,881.3% during the 2nd quarter. Janus Henderson Group PLC now owns 887,490 shares of the company’s stock worth $89,025,000 after purchasing an additional 842,696 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Marriott International during the 2nd quarter worth approximately $629,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Marriott International by 385.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 707,256 shares of the company’s stock worth $70,945,000 after purchasing an additional 561,707 shares during the last quarter. Hedge funds and other institutional investors own 66.65% of the company’s stock.

MAR has been the topic of a number of recent analyst reports. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Thursday, October 26th. Royal Bank of Canada reissued a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Sanford C. Bernstein lowered Marriott International from an “outperform” rating to a “market perform” rating in a report on Thursday, November 16th. Morgan Stanley reissued a “buy” rating on shares of Marriott International in a report on Friday, December 8th. Finally, BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Marriott International presently has an average rating of “Buy” and a consensus price target of $111.62.

Marriott International Inc (MAR) traded up $2.70 on Wednesday, reaching $136.45. The company had a trading volume of 1,504,600 shares, compared to its average volume of 2,440,000. The company has a market cap of $49,750.00, a P/E ratio of 37.08, a PEG ratio of 3.01 and a beta of 1.35. Marriott International Inc has a twelve month low of $81.04 and a twelve month high of $137.60. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.12. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. sell-side analysts predict that Marriott International Inc will post 4.24 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Wednesday, November 22nd were paid a $0.33 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 0.97%. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.

Marriott International announced that its board has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

In other news, EVP Stephanie Linnartz sold 8,333 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $122.82, for a total transaction of $1,023,459.06. Following the completion of the sale, the executive vice president now directly owns 28,263 shares in the company, valued at approximately $3,471,261.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Deborah Marriott Harrison sold 130,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $119.17, for a total value of $15,492,100.00. Following the sale, the insider now owns 114,155 shares of the company’s stock, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders sold a total of 221,825 shares of company stock valued at $27,378,820 over the last 90 days. 11.32% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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