Marriott International (MAR) Shares Bought by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. grew its position in Marriott International (NASDAQ:MAR) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,234 shares of the company’s stock after buying an additional 40,978 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.20% of Marriott International worth $82,500,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in Marriott International during the 1st quarter worth about $115,000. Capital One National Association purchased a new stake in Marriott International during the 2nd quarter worth about $222,000. Atria Investments LLC purchased a new stake in Marriott International during the 2nd quarter worth about $233,000. Bank of Montreal Can increased its position in Marriott International by 21.1% during the 2nd quarter. Bank of Montreal Can now owns 200,301 shares of the company’s stock worth $20,091,000 after purchasing an additional 34,937 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Marriott International by 19.2% during the 2nd quarter. Fisher Asset Management LLC now owns 102,170 shares of the company’s stock worth $10,249,000 after purchasing an additional 16,428 shares in the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
Several analysts have commented on MAR shares. Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 30th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 12th. Berenberg Bank restated a “buy” rating and issued a $125.00 price target on shares of Marriott International in a report on Friday, August 18th. SunTrust Banks, Inc. lifted their price target on Marriott International to $108.00 and gave the company a “hold” rating in a report on Thursday. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $113.00 price target (up previously from $111.00) on shares of Marriott International in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $106.64.
In other news, insider Juliana B. Marriott sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total value of $844,284.00. Following the completion of the sale, the insider now directly owns 18,000 shares in the company, valued at approximately $1,809,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Deborah Marriott Harrison sold 130,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $119.17, for a total value of $15,492,100.00. Following the completion of the sale, the insider now owns 114,155 shares of the company’s stock, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders have sold a total of 210,727 shares of company stock worth $23,836,500 over the last 90 days. 11.32% of the stock is owned by company insiders.
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Marriott International (NASDAQ:MAR) traded up $1.30 during mid-day trading on Monday, reaching $120.11. The company’s stock had a trading volume of 3,377,000 shares, compared to its average volume of 2,456,549. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. Marriott International has a 52 week low of $72.75 and a 52 week high of $124.34. The stock has a market cap of $44,010.00, a P/E ratio of 29.37, a PEG ratio of 3.00 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $0.91 EPS. Marriott International’s revenue for the quarter was up 43.7% compared to the same quarter last year. equities research analysts anticipate that Marriott International will post 4.24 EPS for the current fiscal year.
Marriott International announced that its Board of Directors has authorized a share buyback plan on Thursday, November 9th that permits the company to repurchase 30,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 1.10%. Marriott International’s dividend payout ratio is presently 35.87%.
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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