Stephen Blake Marriott Sells 4,500 Shares of Marriott International Inc. (MAR) Stock
Marriott International Inc. (NASDAQ:MAR) insider Stephen Blake Marriott sold 4,500 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $73.67, for a total transaction of $331,515.00. Following the completion of the sale, the insider now owns 149,336 shares in the company, valued at $11,001,583.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Marriott International Inc. (NASDAQ:MAR) opened at 77.71 on Wednesday. Marriott International Inc. has a 52 week low of $56.43 and a 52 week high of $77.85. The company’s 50-day moving average price is $68.84 and its 200 day moving average price is $69.06. The company has a market capitalization of $30.34 billion, a PE ratio of 27.66 and a beta of 1.23.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the business earned $0.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Marriott International Inc. will post $3.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, November 24th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, November 21st. Marriott International’s payout ratio is 42.25%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its position in shares of Marriott International by 1.4% in the third quarter. Jennison Associates LLC now owns 15,651,744 shares of the company’s stock worth $1,053,832,000 after buying an additional 214,904 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Marriott International by 53.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,898,727 shares of the company’s stock worth $599,151,000 after buying an additional 3,109,290 shares during the last quarter. Capital Research Global Investors increased its position in shares of Marriott International by 101.3% in the third quarter. Capital Research Global Investors now owns 8,717,184 shares of the company’s stock worth $586,928,000 after buying an additional 4,387,737 shares during the last quarter. Morgan Stanley increased its position in shares of Marriott International by 12.6% in the third quarter. Morgan Stanley now owns 5,617,158 shares of the company’s stock worth $378,202,000 after buying an additional 629,962 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Marriott International by 74.8% in the third quarter. BlackRock Fund Advisors now owns 5,249,607 shares of the company’s stock worth $353,456,000 after buying an additional 2,247,068 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.
Several 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 $78.19 target price for the company. in a research note on Monday, November 7th. Barclays PLC reissued a “hold” rating and issued a $80.00 target price on shares of Marriott International in a research note on Thursday, November 10th. Stifel Nicolaus upped their price objective on shares of Marriott International from $65.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, September 26th. Morgan Stanley raised shares of Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 price objective for the company in a research note on Monday, September 26th. Finally, Zacks Investment Research raised shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.51.
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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