CIBC Asset Management Inc Acquires 2,021 Shares of Marriott International Inc (MAR)
CIBC Asset Management Inc raised its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,987 shares of the company’s stock after purchasing an additional 2,021 shares during the period. CIBC Asset Management Inc’s holdings in Marriott International were worth $5,753,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MAR. FDx Advisors Inc. bought a new stake in Marriott International during the fourth quarter valued at $1,351,168,000. Oregon Public Employees Retirement Fund increased its stake in Marriott International by 9,956.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,787,660 shares of the company’s stock valued at $72,000 after purchasing an additional 7,710,218 shares during the last quarter. Norges Bank bought a new stake in Marriott International during the fourth quarter valued at $310,004,000. Morgan Stanley increased its stake in Marriott International by 117.0% during the third quarter. Morgan Stanley now owns 2,539,940 shares of the company’s stock valued at $335,349,000 after purchasing an additional 1,369,478 shares during the last quarter. Finally, Zimmer Partners LP bought a new stake in Marriott International during the fourth quarter valued at $51,566,000. Hedge funds and other institutional investors own 67.36% of the company’s stock.
Several research firms have weighed in on MAR. Wells Fargo & Co boosted their target price on shares of Marriott International from $123.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. Morgan Stanley set a $117.00 price target on shares of Marriott International and gave the company a “hold” rating in a report on Thursday, March 28th. Zacks Investment Research raised shares of Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. BidaskClub downgraded shares of Marriott International from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Cowen reissued a “buy” rating and set a $150.00 price target on shares of Marriott International in a report on Tuesday, February 26th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $136.29.
Shares of MAR opened at $129.87 on Thursday. Marriott International Inc has a 1 year low of $100.62 and a 1 year high of $142.19. The firm has a market cap of $41.96 billion, a PE ratio of 20.91, a PEG ratio of 1.94 and a beta of 1.23. The company has a debt-to-equity ratio of 6.81, a current ratio of 0.47 and a quick ratio of 0.42.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Friday, May 10th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. Marriott International had a net margin of 8.62% and a return on equity of 97.68%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts anticipate that Marriott International Inc will post 6.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 24th will be issued a $0.48 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.92 annualized dividend and a yield of 1.48%. This is an increase from Marriott International’s previous quarterly dividend of $0.41. Marriott International’s dividend payout ratio is presently 26.41%.
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Marriott International Company Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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