Conning Inc. Reduces Stake in Marriott International (MAR)
Conning Inc. decreased its position in Marriott International (NASDAQ:MAR) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,848 shares of the company’s stock after selling 214 shares during the period. Conning Inc.’s holdings in Marriott International were worth $787,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Gradient Investments LLC boosted its stake in Marriott International by 0.3% in the second quarter. Gradient Investments LLC now owns 2,011 shares of the company’s stock worth $202,000 after buying an additional 6 shares in the last quarter. Alexandria Capital LLC boosted its stake in Marriott International by 0.7% in the second quarter. Alexandria Capital LLC now owns 1,644 shares of the company’s stock worth $165,000 after buying an additional 12 shares in the last quarter. First Bank & Trust boosted its stake in Marriott International by 1.2% in the second quarter. First Bank & Trust now owns 1,701 shares of the company’s stock worth $171,000 after buying an additional 20 shares in the last quarter. Geneva Advisors LLC boosted its stake in Marriott International by 1.3% in the first quarter. Geneva Advisors LLC now owns 2,893 shares of the company’s stock worth $272,000 after buying an additional 38 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its stake in Marriott International by 0.5% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 8,741 shares of the company’s stock worth $823,000 after buying an additional 45 shares in the last quarter. 67.11% of the stock is owned by institutional investors and hedge funds.
Marriott International (NASDAQ:MAR) opened at 100.30 on Thursday. The firm has a market capitalization of $37.35 billion, a price-to-earnings ratio of 32.92 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $110.51. The stock has a 50 day moving average of $101.93 and a 200 day moving average of $96.78.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.11. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 48.5% on a year-over-year basis. Analysts forecast that Marriott International will post $4.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 1.32%. Marriott International’s dividend payout ratio is presently 45.52%.
A number of research firms have recently commented on MAR. BidaskClub raised shares of Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “hold” rating and set a $95.00 target price (up previously from $87.00) on shares of Marriott International in a research note on Tuesday, May 9th. Canaccord Genuity reissued a “buy” rating and set a $113.00 target price (up previously from $100.00) on shares of Marriott International in a research note on Monday, May 8th. J P Morgan Chase & Co reissued an “overweight” rating and set a $111.00 target price on shares of Marriott International in a research note on Friday, May 12th. Finally, Robert W. Baird boosted their price target on shares of Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $98.69.
In related news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $99.84, for a total value of $2,995,200.00. Following the sale, the insider now directly owns 493,896 shares of the company’s stock, valued at $49,310,576.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Capuano sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $100.72, for a total transaction of $503,600.00. Following the completion of the sale, the executive vice president now directly owns 56,405 shares in the company, valued at $5,681,111.60. The disclosure for this sale can be found here. Insiders sold 45,822 shares of company stock worth $4,639,840 over the last three months. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
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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