Marriott International (MAR) Stake Lowered by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan trimmed its position in shares of Marriott International (NASDAQ:MAR) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,084 shares of the company’s stock after selling 2,210 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Marriott International were worth $891,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. New York State Common Retirement Fund raised its stake in Marriott International by 0.9% in the third quarter. New York State Common Retirement Fund now owns 1,107,020 shares of the company’s stock worth $122,060,000 after buying an additional 10,300 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Marriott International by 0.8% during the third quarter. Retirement Systems of Alabama now owns 151,771 shares of the company’s stock valued at $16,734,000 after buying an additional 1,132 shares during the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of Marriott International by 36.5% during the third quarter. YHB Investment Advisors Inc. now owns 43,909 shares of the company’s stock valued at $4,841,000 after buying an additional 11,752 shares during the last quarter. AKO Capital LLP raised its position in Marriott International by 2.3% in the third quarter. AKO Capital LLP now owns 497,912 shares of the company’s stock worth $54,900,000 after acquiring an additional 11,261 shares during the period. Finally, Sei Investments Co. raised its position in Marriott International by 3.3% in the third quarter. Sei Investments Co. now owns 298,281 shares of the company’s stock worth $32,888,000 after acquiring an additional 9,606 shares during the period. 67.30% of the stock is owned by hedge funds and other institutional investors.
In other Marriott International news, insider Argiris Kyriakidis sold 4,605 shares of Marriott International stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $126.33, for a total value of $581,749.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Hippeau sold 4,863 shares of Marriott International stock in a transaction on Monday, November 20th. The stock was sold at an average price of $125.98, for a total transaction of $612,640.74. Following the completion of the transaction, the director now directly owns 34,245 shares of the company’s stock, valued at $4,314,185.10. The disclosure for this sale can be found here. Insiders sold a total of 220,778 shares of company stock valued at $25,458,277 over the last three months. Corporate insiders own 11.32% of the company’s stock.
Several research analysts have weighed in on MAR shares. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Sanford C. Bernstein downgraded shares of Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Robert W. Baird set a $103.00 price target on shares of Marriott International and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Finally, UBS AG reiterated a “neutral” rating and issued a $101.00 price target (up from $98.00) on shares of Marriott International in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Marriott International currently has a consensus rating of “Buy” and a consensus target price of $108.62.
Marriott International (MAR) opened at $126.50 on Friday. The firm has a market cap of $46,119.50, a price-to-earnings ratio of 30.93, a P/E/G ratio of 3.16 and a beta of 1.34. Marriott International has a 52 week low of $77.03 and a 52 week high of $128.37. 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 issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping 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 business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the company posted $0.91 EPS. The business’s revenue was up 43.7% on a year-over-year basis. equities analysts predict that Marriott International will post 4.24 EPS for the current fiscal year.
Marriott International declared that its Board of Directors has approved a share repurchase program on Thursday, November 9th that allows the company to repurchase 30,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid 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 1.04%. Marriott International’s payout ratio is currently 35.87%.
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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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