Oppenheimer & Co. Inc. Grows Holdings in Marriott International (MAR)
Oppenheimer & Co. Inc. boosted its holdings in shares of Marriott International (NASDAQ:MAR) by 8.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,807 shares of the company’s stock after buying an additional 1,264 shares during the period. Oppenheimer & Co. Inc.’s holdings in Marriott International were worth $1,686,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAR. BlackRock Inc. grew its stake in shares of Marriott International by 2,076.2% in the 1st quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock worth $1,787,379,000 after acquiring an additional 18,106,240 shares in the last quarter. FMR LLC grew its stake in shares of Marriott International by 112.2% in the 1st quarter. FMR LLC now owns 11,625,543 shares of the company’s stock worth $1,094,894,000 after acquiring an additional 6,147,789 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Marriott International by 35.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 2,627,606 shares of the company’s stock worth $247,468,000 after acquiring an additional 689,051 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Marriott International by 47.8% in the 1st quarter. Teachers Advisors LLC now owns 1,638,849 shares of the company’s stock worth $154,347,000 after acquiring an additional 530,186 shares in the last quarter. Finally, AXA grew its stake in shares of Marriott International by 116.0% in the 1st quarter. AXA now owns 878,216 shares of the company’s stock worth $82,710,000 after acquiring an additional 471,716 shares in the last quarter. Hedge funds and other institutional investors own 65.93% of the company’s stock.
Marriott International (NASDAQ MAR) opened at 101.80 on Thursday. The firm’s 50-day moving average is $102.01 and its 200-day moving average is $98.32. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51. The company has a market cap of $37.91 billion, a price-to-earnings ratio of 33.41 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, analysts anticipate that Marriott International will post $4.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.30%. Marriott International’s dividend payout ratio is currently 45.52%.
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In related news, Director Mary K. Bush sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $100.89, for a total transaction of $121,068.00. Following the completion of the transaction, the director now directly owns 1,101 shares in the company, valued at approximately $111,079.89. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Juliana B. Marriott sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now owns 18,000 shares of the company’s stock, valued at $1,809,180. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,129 shares of company stock valued at $7,174,503. Corporate insiders own 11.32% of the company’s stock.
MAR has been the subject of several recent analyst reports. BidaskClub upgraded shares of Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Marriott International from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Wednesday, May 31st. Instinet upped their target price on shares of Marriott International from $100.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Berenberg Bank reiterated a “buy” rating and issued a $125.00 target price on shares of Marriott International in a research note on Friday, August 18th. Finally, Barclays PLC reiterated a “hold” rating and issued a $105.00 target price on shares of Marriott International in a research note on Friday, May 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Marriott International presently has a consensus rating of “Buy” and an average price target of $100.08.
About Marriott International
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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