Marriott International (MAR) Stake Raised by Capco Asset Management LLC
Capco Asset Management LLC increased its position in Marriott International (NASDAQ:MAR) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 84,057 shares of the company’s stock after buying an additional 1,850 shares during the period. Marriott International makes up about 7.4% of Capco Asset Management LLC’s holdings, making the stock its 8th largest position. Capco Asset Management LLC’s holdings in Marriott International were worth $8,432,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Marriott International during the first quarter worth approximately $115,000. Baker Ellis Asset Management LLC acquired a new position in shares of Marriott International during the second quarter worth $133,000. TrimTabs Asset Management LLC increased its position in shares of Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock worth $147,000 after buying an additional 736 shares during the last quarter. First Bank & Trust increased its position in shares of Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock worth $158,000 after buying an additional 59 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Marriott International by 3.3% in the second quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after buying an additional 50 shares during the last quarter. 67.11% of the stock is owned by hedge funds and other institutional investors.
Marriott International (NASDAQ:MAR) opened at 100.40 on Wednesday. The stock has a market cap of $37.39 billion, a P/E ratio of 32.95 and a beta of 1.36. Marriott International has a 1-year low of $65.91 and a 1-year high of $129.91. The company has a 50-day moving average price of $102.79 and a 200 day moving average price of $96.97.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The company’s revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. Equities analysts expect that Marriott International will post $4.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s dividend payout ratio is presently 45.52%.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/marriott-international-mar-stake-raised-by-capco-asset-management-llc/1494389.html.
A number of brokerages have recently weighed in on MAR. J P Morgan Chase & Co restated an “overweight” rating and issued a $113.00 target price (up previously from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Wednesday, May 31st. Canaccord Genuity restated a “buy” rating and issued a $113.00 target price (up previously from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Instinet boosted their target price on Marriott International from $100.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Finally, BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Marriott International currently has an average rating of “Hold” and a consensus price target of $98.69.
In related news, insider David Grissen sold 2,589 shares of Marriott International stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $105.66, for a total transaction of $273,553.74. Following the transaction, the insider now owns 45,201 shares in the company, valued at approximately $4,775,937.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary K. Bush sold 1,200 shares of Marriott International stock in a transaction on Friday, June 30th. The shares were sold at an average price of $100.89, for a total transaction of $121,068.00. Following the transaction, the director now owns 1,101 shares in the company, valued at approximately $111,079.89. The disclosure for this sale can be found here. Insiders have sold a total of 45,822 shares of company stock worth $4,639,840 in the last quarter. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
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.
Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International (NASDAQ:MAR).
Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with Analyst Ratings Network's FREE daily email newsletter.