Marriott International Inc (MAR) Position Lessened by CS Mckee LP
CS Mckee LP lowered its position in shares of Marriott International Inc (NASDAQ:MAR) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,350 shares of the company’s stock after selling 700 shares during the quarter. CS Mckee LP’s holdings in Marriott International were worth $15,365,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MAR. Advisory Services Network LLC increased its position in Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after acquiring an additional 1,058 shares in the last quarter. First Quadrant L P CA acquired a new stake in Marriott International in the 3rd quarter valued at about $136,000. Grove Bank & Trust increased its position in Marriott International by 214.8% in the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after acquiring an additional 840 shares in the last quarter. Carroll Financial Associates Inc. increased its position in Marriott International by 175.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after acquiring an additional 843 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Marriott International by 28.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,572 shares of the company’s stock valued at $158,000 after acquiring an additional 345 shares in the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
Marriott International Inc (MAR) opened at $128.57 on Tuesday. Marriott International Inc has a one year low of $81.04 and a one year high of $129.99. The firm has a market cap of $47,147.66, a P/E ratio of 31.62, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm earned $0.91 EPS. Marriott International’s quarterly revenue was up 43.7% compared to the same quarter last year. analysts forecast that Marriott International Inc will post 4.24 earnings per share for the current fiscal year.
Marriott International declared that its Board of Directors has authorized a share buyback plan on Thursday, November 9th that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, November 21st. Marriott International’s payout ratio is 35.87%.
In other Marriott International news, Director Eric Hippeau sold 4,863 shares of Marriott International stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $125.98, for a total value of $612,640.74. Following the transaction, the director now owns 34,245 shares of the company’s stock, valued at $4,314,185.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Argiris Kyriakidis sold 3,000 shares of Marriott International stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $107.84, for a total transaction of $323,520.00. Following the completion of the transaction, the insider now directly owns 16,079 shares in the company, valued at approximately $1,733,959.36. The disclosure for this sale can be found here. Insiders have sold a total of 192,014 shares of company stock worth $22,845,638 in the last three months. 11.32% of the stock is owned by insiders.
MAR has been the subject of several research reports. Zacks Investment Research upgraded shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, October 26th. Wolfe Research upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 30th. Royal Bank of Canada restated a “buy” rating on shares of Marriott International in a research report on Tuesday, November 7th. Sanford C. Bernstein cut shares of Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Finally, BidaskClub cut shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.86.
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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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