Marriott International (MAR) Holdings Boosted by ELCO Management Co. LLC
ELCO Management Co. LLC boosted its stake in shares of Marriott International (NASDAQ:MAR) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,015 shares of the company’s stock after purchasing an additional 225 shares during the period. ELCO Management Co. LLC’s holdings in Marriott International were worth $503,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Marriott International by 1.7% in the second quarter. Vanguard Group Inc. now owns 19,999,062 shares of the company’s stock worth $2,006,106,000 after buying an additional 331,586 shares during the period. BlackRock Inc. grew its stake in shares of 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 in the last quarter. FMR LLC grew its stake in shares of Marriott International by 32.5% in the second quarter. FMR LLC now owns 15,406,182 shares of the company’s stock valued at $1,545,394,000 after buying an additional 3,780,639 shares in the last quarter. State Street Corp grew its stake in shares of 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 in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Marriott International by 7.2% in the second quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock valued at $1,280,257,000 after buying an additional 862,710 shares in the last quarter. 65.88% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of Marriott International from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $109.00 price objective (up previously from $92.00) on shares of Marriott International in a report on Monday, June 12th. Robert W. Baird reissued a “hold” rating and issued a $103.00 price objective on shares of Marriott International in a research report on Sunday, September 17th. Finally, UBS AG restated a “neutral” rating and set a $101.00 target price (up from $98.00) on shares of Marriott International in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $100.81.
Marriott International (NASDAQ:MAR) traded down 0.44% during mid-day trading on Wednesday, hitting $108.92. The stock had a trading volume of 295,137 shares. The stock has a 50 day moving average of $104.28 and a 200-day moving average of $101.06. The firm has a market cap of $40.56 billion, a P/E ratio of 35.75 and a beta of 1.36. Marriott International has a 1-year low of $65.91 and a 1-year high of $111.46.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Analysts predict that Marriott International will post $4.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 24th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Tuesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is presently 45.52%.
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In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. Also, EVP Anthony Capuano sold 13,736 shares of Marriott International stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $107.78, for a total transaction of $1,480,466.08. Following the transaction, the executive vice president now directly owns 42,669 shares in the company, valued at $4,598,864.82. The disclosure for this sale can be found here. Insiders sold a total of 110,727 shares of company stock worth $11,339,600 in the last ninety days. Insiders own 11.32% of the company’s stock.
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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