TD Asset Management Inc. Has $32,610,000 Position in Marriott International Inc. (MAR)
TD Asset Management Inc. raised its stake in shares of Marriott International Inc. (NASDAQ:MAR) by 22.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 484,329 shares of the company’s stock after buying an additional 89,114 shares during the period. TD Asset Management Inc. owned approximately 0.19% of Marriott International worth $32,610,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Gradient Investments LLC raised 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. Commerce Bank raised its stake in shares of Marriott International by 0.3% in the second quarter. Commerce Bank now owns 5,403 shares of the company’s stock valued at $359,000 after buying an additional 18 shares during the period. Financial Architects Inc raised its stake in shares of Marriott International by 1.2% in the third quarter. Financial Architects Inc now owns 3,284 shares of the company’s stock valued at $222,000 after buying an additional 38 shares during the period. Dumont & Blake Investment Advisors LLC raised its stake in shares of Marriott International by 0.5% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 8,736 shares of the company’s stock valued at $588,000 after buying an additional 40 shares during the period. Finally, Trust Co. of Virginia VA raised its stake in shares of Marriott International by 1.2% in the second quarter. Trust Co. of Virginia VA now owns 3,579 shares of the company’s stock valued at $237,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 63.96% of the company’s stock.
Shares of Marriott International Inc. (NASDAQ:MAR) traded up 1.09% during mid-day trading on Tuesday, reaching $78.92. 306,239 shares of the company’s stock were exchanged. The stock has a market capitalization of $30.82 billion, a PE ratio of 28.10 and a beta of 1.23. Marriott International Inc. has a 1-year low of $56.43 and a 1-year high of $78.96. The company’s 50 day moving average is $71.28 and its 200 day moving average is $69.54.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Marriott International Inc. will post $3.62 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, November 24th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Monday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 42.25%.
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MAR has been the subject of several research analyst reports. Vetr lowered shares of Marriott International from a “buy” rating to a “hold” rating and set a $74.52 price objective for the company. in a report on Monday, August 1st. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a report on Monday, August 1st. raised shares of Marriott International from an “underperform” rating to an “outperform” rating in a research note on Monday, August 15th. Sanford C. Bernstein initiated coverage on shares of Marriott International in a research note on Thursday, September 8th. They set an “outperform” rating and a $87.00 target price for the company. Finally, Telsey Advisory Group decreased their target price on shares of Marriott International from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.59.
In other Marriott International news, insider John W. Marriott III sold 50,000 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $77.38, for a total transaction of $3,869,000.00. Following the transaction, the insider now directly owns 523,070 shares of the company’s stock, valued at $40,475,156.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David A. Rodriguez sold 1,582 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $77.53, for a total transaction of $122,652.46. Following the transaction, the insider now directly owns 49,392 shares in the company, valued at $3,829,361.76. The disclosure for this sale can be found here. Corporate insiders own 17.07% of the company’s stock.
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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