Marriott International Inc (MAR) Shares Bought by Sarasin & Partners LLP
Sarasin & Partners LLP raised its stake in shares of Marriott International Inc (NASDAQ:MAR) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 814,764 shares of the company’s stock after purchasing an additional 80,204 shares during the period. Marriott International accounts for 2.0% of Sarasin & Partners LLP’s portfolio, making the stock its 21st largest position. Sarasin & Partners LLP owned about 0.23% of Marriott International worth $103,149,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. Signaturefd LLC purchased a new stake in Marriott International during the first quarter worth approximately $133,000. Quad Capital Management Advisors LLC purchased a new stake in Marriott International during the first quarter worth approximately $208,000. Newport Wealth Strategies Inc. purchased a new stake in Marriott International during the second quarter worth approximately $213,000. Moors & Cabot Inc. purchased a new stake in Marriott International during the first quarter worth approximately $256,000. Finally, NuWave Investment Management LLC purchased a new stake in Marriott International during the first quarter worth approximately $266,000. 63.87% of the stock is owned by hedge funds and other institutional investors.
MAR has been the subject of several research reports. Robert W. Baird reiterated a “hold” rating and set a $135.00 price objective on shares of Marriott International in a research note on Wednesday, August 8th. Zacks Investment Research downgraded shares of Marriott International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Barclays decreased their price objective on shares of Marriott International from $148.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 8th. Jefferies Financial Group initiated coverage on shares of Marriott International in a research note on Thursday, May 31st. They set a “hold” rating and a $152.00 price objective for the company. Finally, BidaskClub downgraded shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $139.54.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, August 6th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.37. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.90 billion. Marriott International had a net margin of 7.31% and a return on equity of 52.81%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. research analysts predict that Marriott International Inc will post 5.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, August 23rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, August 22nd. This represents a $1.64 annualized dividend and a dividend yield of 1.36%. Marriott International’s dividend payout ratio (DPR) is presently 37.61%.
In other news, Director Mary K. Bush sold 2,184 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $138.84, for a total value of $303,226.56. Following the completion of the transaction, the director now directly owns 275 shares in the company, valued at $38,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick A. Henderson bought 1,640 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was purchased at an average price of $120.84 per share, with a total value of $198,177.60. Following the completion of the purchase, the director now directly owns 1,640 shares of the company’s stock, valued at approximately $198,177.60. The disclosure for this purchase can be found here. Insiders sold 18,559 shares of company stock valued at $2,613,773 over the last 90 days. Insiders own 12.99% of the company’s stock.
Marriott International Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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