Marriott International Inc (MAR) Shares Sold by Point72 Asset Management L.P.
Point72 Asset Management L.P. cut its stake in shares of Marriott International Inc (NASDAQ:MAR) by 49.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 117,600 shares of the company’s stock after selling 114,600 shares during the period. Point72 Asset Management L.P.’s holdings in Marriott International were worth $12,967,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of MAR. Vanguard Group Inc. raised its position 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 buying an additional 331,586 shares during the last quarter. FMR LLC raised its position 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 buying 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% 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 buying an additional 862,710 shares during the last quarter. Eaton Vance Management raised its position 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 buying an additional 275,477 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its position 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 buying an additional 167,692 shares during the last quarter. Institutional investors own 66.83% of the company’s stock.
Shares of Marriott International Inc (NASDAQ:MAR) opened at $129.82 on Friday. Marriott International Inc has a 12-month low of $81.04 and a 12-month high of $129.99. The stock has a market cap of $46,837.76, a PE ratio of 31.41, a P/E/G ratio of 3.21 and a beta of 1.35. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
Marriott International declared that its Board of Directors has authorized a stock buyback program on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently commented on MAR. Morgan Stanley reiterated a “buy” rating on shares of Marriott International in a research report on Friday, December 8th. Deutsche Bank reiterated a “hold” rating and issued a $124.00 target price on shares of Marriott International in a research report on Wednesday, December 6th. Barclays increased their target price on shares of Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 28th. Sanford C. Bernstein cut shares of Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $115.00 target price (up from $98.00) on shares of Marriott International in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. Marriott International currently has an average rating of “Buy” and a consensus price target of $110.86.
In other Marriott International news, Director Eric Hippeau sold 4,863 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $125.98, for a total transaction of $612,640.74. Following the completion of the transaction, the director now owns 34,245 shares of the company’s stock, valued at $4,314,185.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Anthony Capuano sold 13,736 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $107.78, for a total transaction of $1,480,466.08. Following the transaction, the executive vice president now directly owns 42,669 shares of the company’s stock, valued at approximately $4,598,864.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 205,771 shares of company stock valued at $24,623,025. 11.32% of the stock is currently owned by insiders.
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Marriott International Company 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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