Caisse DE Depot ET Placement DU Quebec Has $430,000 Position in Marriott International Inc (MAR)
Caisse DE Depot ET Placement DU Quebec boosted its position in Marriott International Inc (NASDAQ:MAR) by 63.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,881 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Marriott International were worth $430,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MAR. Advisory Services Network LLC increased its stake in Marriott International by 1,490.1% in the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after purchasing an additional 1,058 shares during the last quarter. First Quadrant L P CA purchased a new position in Marriott International in the third quarter valued at approximately $136,000. Grove Bank & Trust increased its stake in Marriott International by 214.8% in the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after purchasing an additional 840 shares during the last quarter. Carroll Financial Associates Inc. increased its stake in Marriott International by 175.6% in the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after purchasing an additional 843 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Marriott International by 28.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,572 shares of the company’s stock valued at $158,000 after purchasing an additional 345 shares during the last quarter. 66.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Argiris Kyriakidis sold 3,000 shares of Marriott International stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $107.84, for a total value of $323,520.00. Following the transaction, the insider now directly owns 16,079 shares in the company, valued at approximately $1,733,959.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Deborah Marriott Harrison sold 130,000 shares of Marriott International 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 completion of the transaction, the insider now owns 114,155 shares in the company, valued at $13,603,851.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,771 shares of company stock worth $24,623,025. 11.32% of the stock is currently owned by insiders.
Marriott International Inc (NASDAQ MAR) opened at $127.72 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83. The stock has a market cap of $46,720.00, a P/E ratio of 31.48, a PEG ratio of 3.22 and a beta of 1.35. Marriott International Inc has a 1 year low of $81.04 and a 1 year high of $129.99.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.91 EPS. Marriott International’s quarterly revenue was up 43.7% on a year-over-year basis. research analysts predict that Marriott International Inc will post 4.24 EPS for the current year.
Marriott International declared that its board has authorized a share repurchase 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 generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a $0.33 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a yield of 1.03%. Marriott International’s dividend payout ratio (DPR) is 35.87%.
Several brokerages have commented on MAR. Morgan Stanley reiterated a “buy” rating on shares of Marriott International in a research note on Friday, December 8th. Deutsche Bank reiterated a “hold” rating and issued a $124.00 price target on shares of Marriott International in a research note on Wednesday, December 6th. Barclays raised their target price on shares of Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 28th. Sanford C. Bernstein lowered shares of Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Finally, Robert W. Baird raised their target price on shares of Marriott International from $111.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $110.86.
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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