Marriott International (MAR) Stake Maintained by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan held its position in shares of Marriott International (NASDAQ:MAR) during the first quarter, Holdings Channel reports. The firm owned 10,294 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Marriott International were worth $969,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Burney Co. increased its position in Marriott International by 0.7% in the first quarter. Burney Co. now owns 32,483 shares of the company’s stock worth $3,059,000 after buying an additional 223 shares during the period. AXA increased its position in Marriott International by 116.0% in the first quarter. AXA now owns 878,216 shares of the company’s stock worth $82,710,000 after buying an additional 471,716 shares during the period. ARGI Investment Services LLC bought a new position in Marriott International during the first quarter worth approximately $209,000. Tiemann Investment Advisors LLC bought a new position in Marriott International during the first quarter worth approximately $245,000. Finally, Westpac Banking Corp increased its position in Marriott International by 21.3% in the first quarter. Westpac Banking Corp now owns 84,826 shares of the company’s stock worth $6,038,000 after buying an additional 14,872 shares during the period. Institutional investors and hedge funds own 68.33% of the company’s stock.
Marriott International (MAR) traded up 0.70% during trading on Wednesday, hitting $104.61. 644,872 shares of the stock traded hands. The stock has a market cap of $39.64 billion, a P/E ratio of 37.06 and a beta of 1.31. The firm’s 50-day moving average is $102.33 and its 200 day moving average is $90.69. Marriott International has a 52 week low of $60.87 and a 52 week high of $110.51.
Marriott International (NASDAQ:MAR) last issued its earnings results on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.28 billion. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. Equities research analysts forecast that Marriott International will post $4.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, May 19th will be issued a $0.33 dividend. This is an increase from Marriott International’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, May 17th. Marriott International’s payout ratio is presently 47.48%.
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MAR has been the topic of a number of research analyst reports. Barclays PLC reiterated a “hold” rating and set a $89.00 price objective on shares of Marriott International in a research note on Tuesday, February 14th. Canaccord Genuity reiterated a “buy” rating and set a $94.00 price objective on shares of Marriott International in a research note on Thursday, February 16th. Telsey Advisory Group increased their price objective on shares of Marriott International from $73.00 to $90.00 and gave the company a “market perform” rating in a research note on Friday, February 17th. SunTrust Banks, Inc. downgraded shares of Marriott International from a “buy” rating to a “hold” rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Tuesday, February 21st. Finally, Instinet increased their target price on shares of Marriott International from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $97.97.
In other Marriott International news, insider J W. Marriott, Jr. sold 35,059 shares of Marriott International stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $93.42, for a total value of $3,275,211.78. Following the completion of the sale, the insider now directly owns 275,083 shares in the company, valued at $25,698,253.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce W. Duncan sold 4,863 shares of Marriott International stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $90.00, for a total value of $437,670.00. Following the completion of the sale, the director now owns 47,587 shares of the company’s stock, valued at $4,282,830. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,029 shares of company stock valued at $10,117,644. 17.07% of the stock is currently owned by corporate insiders.
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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