Marriott International (MAR) Director Eric Hippeau Sells 4,863 Shares of Stock
Marriott International (NASDAQ:MAR) Director Eric Hippeau sold 4,863 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $125.98, for a total value of $612,640.74. Following the transaction, the director now directly owns 34,245 shares in the company, valued at approximately $4,314,185.10. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Marriott International (NASDAQ:MAR) traded down $1.28 during trading hours on Wednesday, hitting $126.34. The stock had a trading volume of 925,882 shares, compared to its average volume of 2,474,087. Marriott International has a 1 year low of $77.03 and a 1 year high of $128.37. The stock has a market capitalization of $46,530.00, a PE ratio of 30.78, a price-to-earnings-growth ratio of 3.15 and a beta of 1.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52.
Marriott International (NASDAQ:MAR) last announced 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 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 posted $0.91 earnings per share. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. research analysts expect that Marriott International will post 4.24 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s payout ratio is 35.87%.
Marriott International declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 9th that permits the company to repurchase 30,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently issued reports on MAR shares. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Sanford C. Bernstein downgraded Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Robert W. Baird set a $103.00 price objective on Marriott International and gave the company a “hold” rating in a research report on Tuesday, October 17th. Finally, UBS AG reaffirmed a “neutral” rating and set a $101.00 price objective (up previously from $98.00) on shares of Marriott International in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $108.62.
A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new position in Marriott International during the third quarter valued at approximately $1,356,000. Public Employees Retirement System of Ohio raised its position in Marriott International by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 219,277 shares of the company’s stock valued at $24,177,000 after acquiring an additional 786 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in Marriott International during the third quarter valued at approximately $1,006,000. Northern Oak Wealth Management Inc. raised its position in Marriott International by 2.0% during the third quarter. Northern Oak Wealth Management Inc. now owns 47,237 shares of the company’s stock valued at $5,208,000 after acquiring an additional 916 shares in the last quarter. Finally, Piedmont Investment Advisors LLC raised its position in Marriott International by 0.6% during the third quarter. Piedmont Investment Advisors LLC now owns 71,759 shares of the company’s stock valued at $7,912,000 after acquiring an additional 433 shares in the last quarter. Institutional investors own 67.30% 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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