Marriott International Inc. Declares Quarterly Dividend of $0.30 (MAR)
Marriott International Inc. (NASDAQ:MAR) announced a quarterly dividend on Thursday, November 10th. Investors of record on Thursday, November 24th will be given a dividend of 0.30 per share on Friday, December 30th. This represents a $1.20 dividend on an annualized basis and a yield of 1.64%.
Shares of Marriott International (NASDAQ:MAR) opened at 73.42 on Friday. The company has a market cap of $18.68 billion, a PE ratio of 21.88 and a beta of 1.23. The company has a 50-day moving average price of $68.20 and a 200-day moving average price of $68.88. Marriott International has a 1-year low of $56.43 and a 1-year high of $75.09.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, November 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.41 billion. Marriott International had a negative return on equity of 25.97% and a net margin of 4.82%. Marriott International’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Equities research analysts expect that Marriott International will post $3.60 earnings per share for the current fiscal year.
In related news, major shareholder Richard E. Marriott sold 71,287 shares of the business’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $70.14, for a total transaction of $5,000,070.18. Following the completion of the transaction, the insider now directly owns 12,223,365 shares in the company, valued at $857,346,821.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Anthony Capuano sold 22,538 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $73.60, for a total value of $1,658,796.80. Following the transaction, the executive vice president now owns 76,184 shares of the company’s stock, valued at $5,607,142.40. The disclosure for this sale can be found here. Corporate insiders own 17.07% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MAR. Advisor Partners LLC boosted its position in Marriott International by 5.6% in the second quarter. Advisor Partners LLC now owns 3,338 shares of the company’s stock worth $222,000 after buying an additional 176 shares during the last quarter. Bank of Nova Scotia boosted its position in Marriott International by 5.3% in the second quarter. Bank of Nova Scotia now owns 3,794 shares of the company’s stock worth $252,000 after buying an additional 190 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Marriott International by 3.4% in the second quarter. Thrivent Financial for Lutherans now owns 5,856 shares of the company’s stock worth $389,000 after buying an additional 190 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Marriott International by 16.3% in the second quarter. Wetherby Asset Management Inc. now owns 5,893 shares of the company’s stock worth $392,000 after buying an additional 828 shares during the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new position in Marriott International during the second quarter worth about $436,000. Institutional investors and hedge funds own 74.98% of the company’s stock.
MAR has been the topic of several analyst reports. Zacks Investment Research cut Marriott International from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Telsey Advisory Group cut their target price on Marriott International from $74.00 to $70.00 and set a “market perform” rating on the stock in a research report on Friday, September 23rd. Vetr cut Marriott International from a “buy” rating to a “hold” rating and set a $74.52 target price on the stock. in a research report on Monday, August 1st. Morgan Stanley upgraded Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 price target on the stock in a report on Monday, September 26th. Finally, Stifel Nicolaus lifted their price target on Marriott International from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Monday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $76.68.
Marriott International Company Profile
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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