Huntington National Bank Boosts Stake in Marriott International Inc. (MAR)
Huntington National Bank increased its position in Marriott International Inc. (NASDAQ:MAR) by 489.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,342 shares of the company’s stock after buying an additional 181,331 shares during the period. Huntington National Bank owned approximately 0.09% of Marriott International worth $14,511,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in MAR. First National Trust Co. raised its position in shares of Marriott International by 7.7% in the second quarter. First National Trust Co. now owns 8,863 shares of the company’s stock worth $589,000 after buying an additional 632 shares during the last quarter. Jensen Investment Management Inc. acquired a new stake in Marriott International during the second quarter worth $401,000. Strs Ohio increased its stake in Marriott International by 13.0% in the second quarter. Strs Ohio now owns 11,881 shares of the company’s stock worth $789,000 after buying an additional 1,368 shares during the period. Norris Perne & French LLP MI acquired a new stake in Marriott International during the second quarter worth $458,000. Finally, Financial Architects Inc increased its stake in Marriott International by 188.5% in the second quarter. Financial Architects Inc now owns 3,246 shares of the company’s stock worth $216,000 after buying an additional 2,121 shares during the period. Institutional investors own 73.74% of the company’s stock.
Marriott International Inc. (NASDAQ:MAR) traded up 0.458% during trading on Wednesday, reaching $66.915. 1,642,897 shares of the company were exchanged. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 19.939 and a beta of 1.28. Marriott International Inc. has a one year low of $56.43 and a one year high of $79.88. The firm’s 50 day moving average price is $69.28 and its 200-day moving average price is $68.78.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.05. The business earned $3.90 billion during the quarter, compared to analyst estimates of $3.91 billion. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. Marriott International’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. On average, equities research analysts predict that Marriott International Inc. will post $3.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 23rd were paid a $0.30 dividend. The ex-dividend date was Wednesday, September 21st. This represents a $1.20 annualized dividend and a dividend yield of 1.80%. Marriott International’s payout ratio is 35.71%.
A number of equities research analysts recently weighed in on MAR shares. Vetr downgraded shares of Marriott International from a “strong-buy” rating to a “buy” rating and set a $75.10 price target for the company. in a research note on Monday, June 20th. Zacks Investment Research downgraded shares of Marriott International from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Evercore ISI raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, June 30th. Wolfe Research started coverage on shares of Marriott International in a research note on Wednesday, July 6th. They set a “market perform” rating for the company. Finally, Morgan Stanley dropped their price target on shares of Marriott International from $74.00 to $73.00 and set an “equal weight” rating for the company in a research note on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Marriott International has an average rating of “Buy” and an average price target of $78.09.
In other news, insider J W. Marriott, Jr. sold 28,515 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total value of $2,000,042.10. Following the completion of the sale, the insider now owns 240,024 shares in the company, valued at approximately $16,835,283.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Anthony Capuano sold 22,538 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,658,796.80. Following the completion of the sale, the executive vice president now owns 76,184 shares of the company’s stock, valued at approximately $5,607,142.40. The disclosure for this sale can be found here. 17.07% of the stock is currently owned by insiders.
About Marriott International
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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