Marriott International (MAR) Position Cut by Private Wealth Partners LLC
Private Wealth Partners LLC cut its position in shares of Marriott International (NASDAQ:MAR) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,350 shares of the company’s stock after selling 1,100 shares during the period. Private Wealth Partners LLC’s holdings in Marriott International were worth $2,023,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Retirement Systems of Alabama boosted its holdings in Marriott International by 0.8% during the third quarter. Retirement Systems of Alabama now owns 151,771 shares of the company’s stock worth $16,734,000 after buying an additional 1,132 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in Marriott International by 36.5% during the third quarter. YHB Investment Advisors Inc. now owns 43,909 shares of the company’s stock worth $4,841,000 after buying an additional 11,752 shares in the last quarter. AKO Capital LLP boosted its holdings in Marriott International by 2.3% during the third quarter. AKO Capital LLP now owns 497,912 shares of the company’s stock worth $54,900,000 after buying an additional 11,261 shares in the last quarter. Sei Investments Co. boosted its holdings in Marriott International by 3.3% during the third quarter. Sei Investments Co. now owns 298,281 shares of the company’s stock worth $32,888,000 after buying an additional 9,606 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Marriott International by 35.8% during the third quarter. BNP Paribas Arbitrage SA now owns 231,983 shares of the company’s stock worth $25,578,000 after buying an additional 61,111 shares in the last quarter. 65.88% of the stock is currently owned by hedge funds and other institutional investors.
MAR has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, October 26th. Wolfe Research raised shares of Marriott International from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 30th. BidaskClub downgraded shares of Marriott International from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 5th. Robert W. Baird set a $103.00 price objective on shares of Marriott International and gave the company a “hold” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $98.00 price objective on shares of Marriott International in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $106.64.
Marriott International (NASDAQ:MAR) traded up $1.30 during trading on Monday, reaching $120.11. 3,377,000 shares of the company traded hands, compared to its average volume of 2,456,549. Marriott International has a 52-week low of $72.75 and a 52-week high of $124.34. The firm has a market capitalization of $43,789.86, a PE ratio of 29.37, a P/E/G ratio of 3.00 and a beta of 1.34. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the business earned $0.91 earnings per share. Marriott International’s revenue was up 43.7% compared to the same quarter last year. research analysts anticipate that Marriott International will post 4.24 earnings per share for the current fiscal year.
Marriott International announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s payout ratio is currently 35.87%.
In other Marriott International news, insider Juliana B. Marriott sold 8,400 shares of Marriott International stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total transaction of $844,284.00. Following the completion of the sale, the insider now directly owns 18,000 shares in the company, valued at $1,809,180. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider J W. Marriott, Jr. sold 26,362 shares of Marriott International stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $101.78, for a total transaction of $2,683,124.36. Following the sale, the insider now owns 203,286 shares of the company’s stock, valued at $20,690,449.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,727 shares of company stock valued at $8,344,400. 11.32% of the stock is owned by company insiders.
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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