Marriott International (MAR) Position Trimmed by State of Tennessee Treasury Department
State of Tennessee Treasury Department decreased its holdings in shares of Marriott International (NASDAQ:MAR) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 288,113 shares of the company’s stock after selling 3,584 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.08% of Marriott International worth $28,900,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its stake in Marriott International by 28.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,572 shares of the company’s stock worth $158,000 after purchasing an additional 345 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Marriott International by 8.1% during the second quarter. Oppenheimer & Co. Inc. now owns 16,807 shares of the company’s stock worth $1,686,000 after purchasing an additional 1,264 shares during the last quarter. Providence First Trust Co purchased a new stake in Marriott International during the second quarter worth approximately $497,000. Delta Lloyd Asset Management N.V. purchased a new stake in Marriott International during the second quarter worth approximately $6,076,000. Finally, Swiss National Bank lifted its stake in Marriott International by 4.5% during the second quarter. Swiss National Bank now owns 1,228,744 shares of the company’s stock worth $123,255,000 after purchasing an additional 52,600 shares during the last quarter. Hedge funds and other institutional investors own 65.93% of the company’s stock.
A number of brokerages have weighed in on MAR. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $113.00 price objective (up previously from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Wednesday, May 31st. Berenberg Bank reiterated a “buy” rating and issued a $125.00 price objective on shares of Marriott International in a research note on Friday, August 18th. Canaccord Genuity reiterated a “buy” rating and issued a $113.00 price objective (up previously from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Finally, Instinet boosted their price objective on Marriott International from $100.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Marriott International currently has an average rating of “Buy” and a consensus price target of $100.08.
In related news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International stock in a transaction on Monday, August 14th. The stock was sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the completion of the sale, the insider now owns 493,896 shares of the company’s stock, valued at $49,310,576.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Edward A. Ryan sold 3,300 shares of Marriott International stock in a transaction on Friday, June 16th. The shares were sold at an average price of $104.65, for a total value of $345,345.00. Following the sale, the executive vice president now directly owns 84,859 shares of the company’s stock, valued at approximately $8,880,494.35. The disclosure for this sale can be found here. Insiders have sold 56,300 shares of company stock worth $5,653,781 in the last quarter. 11.32% of the stock is currently owned by corporate insiders.
Shares of Marriott International (NASDAQ MAR) opened at 103.80 on Monday. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51. The stock has a 50 day moving average price of $101.96 and a 200 day moving average price of $98.00. The stock has a market capitalization of $38.66 billion, a P/E ratio of 34.07 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. Marriott International’s revenue for the quarter was up 48.5% compared to the same quarter last year. On average, analysts anticipate 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.27%. Marriott International’s dividend payout ratio is 45.52%.
Marriott International 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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