Insider Selling: Marriott International Inc. (MAR) Insider Sells 50,000 Shares of Stock
Marriott International Inc. (NASDAQ:MAR) insider John W. Marriott III sold 50,000 shares of Marriott International stock in a transaction on Monday, November 21st. The shares were sold at an average price of $77.38, for a total value of $3,869,000.00. Following the transaction, the insider now owns 523,070 shares in the company, valued at approximately $40,475,156.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Marriott International Inc. (NASDAQ:MAR) traded up 0.59% during midday trading on Monday, hitting $77.29. The stock had a trading volume of 2,605,628 shares. Marriott International Inc. has a 1-year low of $56.43 and a 1-year high of $78.18. The company’s 50 day moving average is $69.48 and its 200 day moving average is $69.17. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 27.52 and a beta of 1.23.
Marriott International (NASDAQ:MAR) last issued 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. Marriott International had a net margin of 4.82% and a negative return on equity of 76.10%. The business earned $3.94 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the business posted $0.78 EPS. Marriott International’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Marriott International Inc. will post $3.57 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date is Monday, November 21st. This represents a $1.20 annualized dividend and a yield of 1.55%. Marriott International’s dividend payout ratio (DPR) is currently 42.25%.
Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. increased its stake in shares of Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock valued at $102,000 after buying an additional 350 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Marriott International by 84.4% in the third quarter. Quadrant Capital Group LLC now owns 1,835 shares of the company’s stock valued at $118,000 after buying an additional 840 shares during the period. Smithfield Trust Co. increased its stake in shares of Marriott International by 54.3% in the second quarter. Smithfield Trust Co. now owns 1,875 shares of the company’s stock valued at $125,000 after buying an additional 660 shares during the period. Synovus Financial Corp increased its stake in shares of Marriott International by 11.9% in the third quarter. Synovus Financial Corp now owns 1,880 shares of the company’s stock valued at $126,000 after buying an additional 200 shares during the period. Finally, Gradient Investments LLC increased its stake in shares of Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock valued at $130,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 80.98% of the company’s stock.
A number of analysts recently issued reports on MAR shares. Vetr cut Marriott International from a “buy” rating to a “hold” rating and set a $74.52 price objective for the company. in a research report on Tuesday, July 26th. Morgan Stanley reduced their price objective on Marriott International from $74.00 to $73.00 and set an “equal weight” rating for the company in a research report on Thursday, July 28th. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. raised Marriott International from an “underperform” rating to an “outperform” rating in a research report on Monday, August 15th. Finally, Sanford C. Bernstein started coverage on Marriott International in a research report on Thursday, September 8th. They set an “outperform” rating and a $87.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.33.
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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