DnB Asset Management AS Has $4.69 Million Stake in Marriott International Inc (MAR)
DnB Asset Management AS cut its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,563 shares of the company’s stock after selling 700 shares during the period. DnB Asset Management AS’s holdings in Marriott International were worth $4,691,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Marriott International by 1.7% during the second quarter. Vanguard Group Inc. now owns 19,999,062 shares of the company’s stock worth $2,006,106,000 after buying an additional 331,586 shares during the period. FMR LLC boosted its position in shares of Marriott International by 32.5% during the second quarter. FMR LLC now owns 15,406,182 shares of the company’s stock worth $1,545,394,000 after buying an additional 3,780,639 shares during the period. Capital Research Global Investors boosted its position in shares of Marriott International by 7.2% during the second quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock worth $1,280,257,000 after buying an additional 862,710 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Marriott International by 11.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,681,372 shares of the company’s stock worth $185,388,000 after buying an additional 167,692 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Marriott International by 88.6% during the third quarter. Janus Henderson Group PLC now owns 1,673,540 shares of the company’s stock worth $184,524,000 after buying an additional 786,050 shares during the period. Institutional investors and hedge funds own 66.65% of the company’s stock.
In other Marriott International news, insider Deborah Marriott Harrison sold 130,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the sale, the insider now directly owns 114,155 shares of the company’s stock, valued at approximately $13,603,851.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Edward A. Ryan sold 6,550 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $120.40, for a total transaction of $788,620.00. Following the sale, the executive vice president now directly owns 67,856 shares in the company, valued at $8,169,862.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,825 shares of company stock worth $27,378,820. Company insiders own 11.32% of the company’s stock.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. sell-side analysts forecast that Marriott International Inc will post 4.24 earnings per share for the current fiscal year.
Marriott International announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 9th that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.94%. The ex-dividend date was Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
A number of research firms have weighed in on MAR. Stifel Nicolaus restated a “hold” rating and issued a $132.00 target price on shares of Marriott International in a research report on Tuesday. Barclays upped their target price on Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 28th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 22nd. Robert W. Baird upped their target price on Marriott International from $111.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, SunTrust Banks upped their target price on Marriott International to $108.00 and gave the stock a “hold” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $112.62.
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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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