BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Position in Marriott International Inc (MAR)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,841 shares of the company’s stock after selling 1,642 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Marriott International worth $21,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently modified their holdings of MAR. FMR LLC raised its position in shares of Marriott International by 32.5% during the 2nd quarter. FMR LLC now owns 15,406,182 shares of the company’s stock worth $1,545,394,000 after purchasing an additional 3,780,639 shares during the last quarter. Capital Research Global Investors raised its position in shares of Marriott International by 7.2% during the 2nd quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock worth $1,280,257,000 after purchasing an additional 862,710 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Marriott International by 1,881.3% during the 2nd quarter. Janus Henderson Group PLC now owns 887,490 shares of the company’s stock worth $89,025,000 after purchasing an additional 842,696 shares during the last quarter. Koch Industries Inc. purchased a new stake in Marriott International during the 2nd quarter valued at about $629,000. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Marriott International by 385.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 707,256 shares of the company’s stock valued at $70,945,000 after acquiring an additional 561,707 shares in the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
In other news, EVP Edward A. Ryan sold 5,900 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $127.22, for a total value of $750,598.00. Following the sale, the executive vice president now directly owns 61,956 shares in the company, valued at approximately $7,882,042.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Argiris Kyriakidis sold 4,605 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $126.33, for a total transaction of $581,749.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,487 shares of company stock worth $22,005,029. 11.32% of the stock is owned by company insiders.
Marriott International Inc (MAR) opened at $127.30 on Thursday. 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 Inc has a fifty-two week low of $81.04 and a fifty-two week high of $129.56. The company has a market cap of $46,495.05, a P/E ratio of 31.18, a PEG ratio of 3.19 and a beta of 1.35.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. research analysts anticipate that Marriott International Inc will post 4.24 earnings per share for the current 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 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced 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 dividend on an annualized basis and a yield of 1.04%. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
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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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