Adelante Capital Management LLC Trims Stake in Marriott International Inc (MAR)
Adelante Capital Management LLC trimmed its holdings in Marriott International Inc (NASDAQ:MAR) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 510,673 shares of the company’s stock after selling 21,975 shares during the quarter. Marriott International accounts for 3.1% of Adelante Capital Management LLC’s portfolio, making the stock its 15th largest holding. Adelante Capital Management LLC owned approximately 0.14% of Marriott International worth $56,307,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of MAR. Vanguard Group Inc. raised its stake 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 valued at $2,006,106,000 after purchasing an additional 331,586 shares in the last quarter. FMR LLC raised 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 purchasing an additional 3,780,639 shares in the last quarter. Capital Research Global Investors raised 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 purchasing an additional 862,710 shares in the last quarter. Eaton Vance Management raised its stake in shares of Marriott International by 13.1% in the second quarter. Eaton Vance Management now owns 2,371,202 shares of the company’s stock valued at $237,855,000 after purchasing an additional 275,477 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Marriott International by 11.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,681,372 shares of the company’s stock valued at $185,388,000 after purchasing an additional 167,692 shares in the last quarter. 66.83% of the stock is owned by institutional investors.
MAR has been the subject of a number of recent research reports. Stifel Nicolaus upped their target price on Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird upped their target price on Marriott International from $101.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $113.00 price objective (up from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $110.09.
Shares of Marriott International Inc (NASDAQ MAR) opened at $127.73 on Tuesday. Marriott International Inc has a 12 month low of $80.04 and a 12 month high of $129.56. The firm has a market capitalization of $46,250.79, a price-to-earnings ratio of 31.02, a PEG ratio of 3.17 and a beta of 1.35. 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 (NASDAQ:MAR) last announced its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, beating the Zacks’ 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 during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 43.7% compared to the same quarter last year. sell-side analysts predict that Marriott International Inc will post 4.24 EPS for the current year.
The firm also recently announced 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. The ex-dividend date is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.03%. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
Marriott International declared that its board has initiated a stock repurchase plan on Thursday, November 9th that permits the company to repurchase 30,000,000 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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