Employees Retirement System of Texas Has $10.71 Million Holdings in Marriott International (MAR)
Employees Retirement System of Texas raised its stake in Marriott International (NASDAQ:MAR) by 143.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,800 shares of the company’s stock after buying an additional 63,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Marriott International were worth $10,713,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in 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 last quarter. BlackRock Inc. grew its position in shares of Marriott International by 2,076.2% during the 1st quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock worth $1,787,379,000 after buying an additional 18,106,240 shares during the period. FMR LLC grew its position in shares of Marriott International by 32.5% during the 2nd 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. State Street Corp increased its stake in shares of Marriott International by 0.5% in the 1st quarter. State Street Corp now owns 14,173,107 shares of the company’s stock valued at $1,334,828,000 after acquiring an additional 73,403 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Marriott International by 0.6% in the 1st quarter. Morgan Stanley now owns 5,079,669 shares of the company’s stock valued at $478,403,000 after acquiring an additional 27,814 shares during the last quarter. 65.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on MAR shares. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $113.00 price target (up from $111.00) on shares of Marriott International in a research report on Wednesday, August 9th. Berenberg Bank reissued a “buy” rating and set a $125.00 price objective on shares of Marriott International in a research note on Friday, August 18th. BidaskClub raised shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Stifel Nicolaus boosted their price objective on shares of Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a report on Tuesday, August 8th. Finally, Wolfe Research upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $100.81.
Marriott International (NASDAQ MAR) traded up 0.08% during trading on Monday, reaching $110.35. The company’s stock had a trading volume of 312,862 shares. The company has a market cap of $41.10 billion, a P/E ratio of 36.22 and a beta of 1.36. The stock’s 50-day moving average is $102.54 and its 200 day moving average is $99.47. Marriott International has a 12 month low of $65.91 and a 12 month high of $111.32.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. Marriott International’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. On average, equities analysts forecast that Marriott International will post $4.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 24th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.20%. The ex-dividend date was Tuesday, August 22nd. Marriott International’s dividend payout ratio is presently 45.52%.
In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the transaction, the insider now owns 493,896 shares in the company, valued at $49,310,576.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Juliana B. Marriott sold 8,400 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total transaction of $844,284.00. Following the transaction, the insider now owns 18,000 shares in the company, valued at approximately $1,809,180. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,727 shares of company stock worth $11,339,600. 11.32% of the stock is owned by insiders.
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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