Pathstone Family Office LLC Boosts Holdings in Marriott International (MAR)
Pathstone Family Office LLC boosted its holdings in shares of Marriott International (NASDAQ:MAR) by 1,178.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,532 shares of the company’s stock after buying an additional 140,597 shares during the quarter. Marriott International accounts for about 4.0% of Pathstone Family Office LLC’s portfolio, making the stock its 3rd largest holding. Pathstone Family Office LLC’s holdings in Marriott International were worth $16,903,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Marriott International by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 19,667,476 shares of the company’s stock worth $1,852,283,000 after purchasing an additional 303,078 shares during the period. BlackRock Inc. grew its stake in shares of Marriott International by 2,076.2% during the 1st quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock worth $1,787,379,000 after purchasing an additional 18,106,240 shares during the period. State Street Corp grew its stake in shares of Marriott International by 0.5% during the 1st quarter. State Street Corp now owns 14,173,107 shares of the company’s stock worth $1,334,828,000 after purchasing an additional 73,403 shares during the period. FMR LLC grew its stake in shares of Marriott International by 112.2% during the 1st quarter. FMR LLC now owns 11,625,543 shares of the company’s stock worth $1,094,894,000 after purchasing an additional 6,147,789 shares during the period. Finally, Morgan Stanley grew its stake in shares of Marriott International by 0.6% during the 1st quarter. Morgan Stanley now owns 5,079,669 shares of the company’s stock worth $478,403,000 after purchasing an additional 27,814 shares during the period. 65.88% of the stock is owned by institutional investors.
In other Marriott International news, Director Mary K. Bush sold 1,200 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $100.89, for a total value of $121,068.00. Following the sale, the director now owns 1,101 shares of the company’s stock, valued at $111,079.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider J W. Marriott, Jr. sold 26,362 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $101.78, for a total value of $2,683,124.36. Following the completion of the sale, the insider now directly owns 203,286 shares in the company, valued at approximately $20,690,449.08. The disclosure for this sale can be found here. Insiders sold 94,191 shares of company stock worth $9,512,282 in the last three months. 11.32% of the stock is owned by corporate insiders.
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A number of brokerages have recently commented on MAR. Zacks Investment Research cut shares of Marriott International from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. BidaskClub raised shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Robert W. Baird raised their price objective on shares of Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Stifel Nicolaus raised their price objective on shares of Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $109.00 price objective (up previously from $92.00) on shares of Marriott International in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. Marriott International presently has a consensus rating of “Hold” and a consensus price target of $100.81.
Shares of Marriott International (NASDAQ MAR) traded up 0.09% during midday trading on Tuesday, reaching $105.64. 528,718 shares of the company’s stock traded hands. Marriott International has a 52 week low of $65.91 and a 52 week high of $110.51. The company has a market capitalization of $39.34 billion, a PE ratio of 34.67 and a beta of 1.36. The stock’s 50 day moving average is $102.45 and its 200-day moving average is $99.32.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. Marriott International’s revenue was up 48.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, analysts forecast that Marriott International will post $4.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is 45.52%.
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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