Allen Investment Management LLC Decreases Position in Marriott International (MAR)
Allen Investment Management LLC lowered its stake in shares of Marriott International (NASDAQ:MAR) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,825 shares of the company’s stock after selling 235 shares during the period. Allen Investment Management LLC’s holdings in Marriott International were worth $785,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAR. Vanguard Group Inc. increased its position in Marriott International by 1.6% in the first quarter. Vanguard Group Inc. now owns 19,667,476 shares of the company’s stock valued at $1,852,283,000 after buying an additional 303,078 shares during the period. BlackRock Inc. increased its position in Marriott International by 2,076.2% in the first quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock valued at $1,787,379,000 after buying an additional 18,106,240 shares during the period. State Street Corp increased its position in Marriott International by 0.5% in the first quarter. State Street Corp now owns 14,173,107 shares of the company’s stock valued at $1,334,828,000 after buying an additional 73,403 shares during the period. FMR LLC increased its position in Marriott International by 112.2% in the first quarter. FMR LLC now owns 11,625,543 shares of the company’s stock valued at $1,094,894,000 after buying an additional 6,147,789 shares during the period. Finally, Morgan Stanley increased its position in Marriott International by 0.6% in the first quarter. Morgan Stanley now owns 5,079,669 shares of the company’s stock valued at $478,403,000 after buying an additional 27,814 shares during the period. 65.94% of the stock is owned by institutional investors and hedge funds.
Shares of Marriott International (NASDAQ MAR) opened at 100.23 on Wednesday. The firm has a 50-day moving average of $101.72 and a 200 day moving average of $97.43. The company has a market cap of $37.33 billion, a P/E ratio of 32.89 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 released its earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. Marriott International’s revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities analysts expect that Marriott International will post $4.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.32%. Marriott International’s dividend payout ratio (DPR) is 45.52%.
MAR has been the subject of several research reports. Zacks Investment Research raised shares of Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reissued an “overweight” rating and set a $111.00 price objective on shares of Marriott International in a report on Friday, May 12th. Barclays PLC reissued a “hold” rating and set a $105.00 price objective on shares of Marriott International in a report on Friday, May 12th. BidaskClub raised shares of Marriott International from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $109.00 price target (up previously from $92.00) on shares of Marriott International in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $100.08.
In other Marriott International news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the transaction, the insider now directly owns 493,896 shares of the company’s stock, valued at $49,310,576.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Edward A. Ryan sold 3,300 shares of Marriott International stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $104.65, for a total transaction of $345,345.00. Following the transaction, the executive vice president now directly owns 84,859 shares in the company, valued at $8,880,494.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,300 shares of company stock worth $5,653,781. 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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