Marriott International (MAR) Stake Lowered by Pitcairn Co.
Pitcairn Co. lowered its holdings in Marriott International (NASDAQ:MAR) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,379 shares of the company’s stock after selling 443 shares during the period. Pitcairn Co.’s holdings in Marriott International were worth $593,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in MAR. FMR LLC grew its position in shares of Marriott International by 32.5% in the second quarter. FMR LLC now owns 15,406,182 shares of the company’s stock valued at $1,545,394,000 after purchasing an additional 3,780,639 shares during the period. Capital Research Global Investors grew its position in shares of Marriott International by 7.2% in the second quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock valued at $1,280,257,000 after purchasing an additional 862,710 shares during the period. Janus Henderson Group PLC grew its position in shares of Marriott International by 1,881.3% in the second quarter. Janus Henderson Group PLC now owns 887,490 shares of the company’s stock valued at $89,025,000 after purchasing an additional 842,696 shares during the period. Koch Industries Inc. acquired a new position in Marriott International in the second quarter valued at $629,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Marriott International by 385.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 707,256 shares of the company’s stock valued at $70,945,000 after acquiring an additional 561,707 shares during the last quarter. 66.06% of the stock is owned by institutional investors and hedge funds.
In related news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $99.84, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Edward A. Ryan sold 6,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $108.00, for a total value of $648,000.00. Following the completion of the transaction, the executive vice president now owns 74,406 shares in the company, valued at approximately $8,035,848. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,727 shares of company stock worth $11,339,600. Insiders own 11.32% of the company’s stock.
A number of research analysts recently weighed in on the company. Royal Bank Of Canada reiterated a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $115.00 target price (up previously from $98.00) on shares of Marriott International in a report on Wednesday. SunTrust Banks, Inc. lifted their target price on Marriott International to $108.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird lifted their target price on Marriott International from $111.00 to $115.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley lifted their target price on Marriott International from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Marriott International presently has a consensus rating of “Buy” and a consensus target price of $106.64.
Shares of Marriott International (MAR) traded up $1.30 on Friday, hitting $120.11. The company’s stock had a trading volume of 3,377,000 shares, compared to its average volume of 2,706,595. The firm has a market capitalization of $43,789.82, a PE ratio of 29.37, a PEG ratio of 3.10 and a beta of 1.34. Marriott International has a 12 month low of $72.75 and a 12 month high of $124.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.53 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 the Zacks’ consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. analysts predict that Marriott International will post 4.24 EPS for the current year.
Marriott International declared that its board has approved a stock buyback program on Thursday, November 9th that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is 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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