Marriott International (MAR) EVP Sells $788,620.00 in Stock
Marriott International (NASDAQ:MAR) EVP Edward A. Ryan sold 6,550 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $120.40, for a total transaction of $788,620.00. Following the completion of the transaction, the executive vice president now directly owns 67,856 shares of the company’s stock, valued at $8,169,862.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Marriott International (NASDAQ MAR) opened at $124.38 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. The stock has a market cap of $44,573.71, a PE ratio of 29.89, a PEG ratio of 3.06 and a beta of 1.34. Marriott International has a fifty-two week low of $76.88 and a fifty-two week high of $124.42.
Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.12. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. Marriott International’s quarterly revenue was up 43.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. analysts predict that Marriott International will post 4.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.06%. Marriott International’s payout ratio is 35.87%.
Marriott International declared that its board has authorized a stock buyback plan on Thursday, November 9th that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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MAR has been the subject of a number of research analyst reports. Berenberg Bank reaffirmed a “buy” rating and issued a $125.00 target price on shares of Marriott International in a research note on Friday, August 18th. BidaskClub lowered shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Thursday, October 26th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Marriott International in a research note on Tuesday, November 7th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $103.00 target price on shares of Marriott International in a research note on Sunday, September 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Marriott International has an average rating of “Buy” and an average price target of $106.64.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Marriott International by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 19,999,062 shares of the company’s stock valued at $2,006,106,000 after acquiring an additional 331,586 shares during the period. FMR LLC raised its holdings in Marriott International by 32.5% in the 2nd quarter. FMR LLC now owns 15,406,182 shares of the company’s stock valued at $1,545,394,000 after acquiring an additional 3,780,639 shares during the period. Capital Research Global Investors raised its holdings in Marriott International by 7.2% in the 2nd quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock valued at $1,280,257,000 after acquiring an additional 862,710 shares during the period. Eaton Vance Management raised its holdings in Marriott International by 13.1% in the 2nd quarter. Eaton Vance Management now owns 2,371,202 shares of the company’s stock valued at $237,855,000 after acquiring an additional 275,477 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in Marriott International by 11.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,681,372 shares of the company’s stock valued at $185,388,000 after acquiring an additional 167,692 shares during the period. 65.88% of the stock is currently owned by hedge funds and other institutional investors.
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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