Pacer Advisors Inc. Raises Position in Marriott International (MAR)
Pacer Advisors Inc. boosted its position in shares of Marriott International (NASDAQ:MAR) by 8.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,844 shares of the company’s stock after buying an additional 924 shares during the period. Pacer Advisors Inc.’s holdings in Marriott International were worth $1,188,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Marriott International during the first quarter worth $115,000. Baker Ellis Asset Management LLC acquired a new stake in shares of Marriott International during the second quarter worth $133,000. TrimTabs Asset Management LLC raised its stake in shares of Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock worth $147,000 after buying an additional 736 shares in the last quarter. First Bank & Trust raised its stake in shares of Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock worth $158,000 after buying an additional 59 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of Marriott International by 3.3% in the second quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after buying an additional 50 shares in the last quarter. 65.94% of the stock is currently owned by institutional investors.
Shares of Marriott International (NASDAQ:MAR) opened at 100.66 on Monday. The company’s 50-day moving average price is $101.72 and its 200-day moving average price is $97.43. The stock has a market cap of $37.49 billion, a PE ratio of 33.04 and a beta of 1.36. Marriott International has a 52-week low of $65.91 and a 52-week high of $110.51.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 48.5% compared to the same quarter last year. On average, equities research analysts forecast that Marriott International will post $4.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 annualized dividend and a yield of 1.31%. Marriott International’s dividend payout ratio is currently 45.52%.
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A number of brokerages have recently weighed in on MAR. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a “hold” rating and issued a $95.00 price objective (up from $87.00) on shares of Marriott International in a research report on Tuesday, May 9th. Canaccord Genuity reiterated a “buy” rating and issued a $113.00 price objective (up from $100.00) on shares of Marriott International in a research report on Monday, May 8th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $111.00 price objective on shares of Marriott International in a research report on Friday, May 12th. Finally, Robert W. Baird lifted their price objective on Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $100.08.
In related news, insider Stephen Blake Marriott sold 3,733 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $107.44, for a total transaction of $401,073.52. Following the completion of the transaction, the insider now directly owns 145,601 shares of the company’s stock, valued at $15,643,371.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David S. Marriott sold 8,400 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $100.51, for a total transaction of $844,284.00. Following the transaction, the insider now directly owns 629,136 shares of the company’s stock, valued at $63,234,459.36. The disclosure for this sale can be found here. Insiders have sold 60,033 shares of company stock valued at $6,054,855 over the last three months. 11.32% of the stock is currently owned by corporate insiders.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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