Marriott International (MAR) Stake Raised by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. boosted its position in Marriott International (NASDAQ:MAR) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,973 shares of the company’s stock after buying an additional 164 shares during the period. Wetherby Asset Management Inc.’s holdings in Marriott International were worth $700,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Marriott International by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 205,659 shares of the company’s stock worth $17,004,000 after buying an additional 49,493 shares during the period. CENTRAL TRUST Co raised its stake in shares of Marriott International by 5.1% in the first quarter. CENTRAL TRUST Co now owns 2,902 shares of the company’s stock worth $273,000 after buying an additional 140 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Marriott International during the first quarter worth about $312,000. Sheets Smith Wealth Management bought a new stake in shares of Marriott International during the first quarter worth about $223,000. Finally, Gradient Investments LLC raised its stake in shares of Marriott International by 0.4% in the first quarter. Gradient Investments LLC now owns 2,005 shares of the company’s stock worth $189,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 67.06% of the company’s stock.
Marriott International (NASDAQ MAR) opened at 99.40 on Friday. Marriott International has a 52-week low of $65.91 and a 52-week high of $110.51. The firm has a 50-day moving average of $102.16 and a 200 day moving average of $96.39. The company has a market cap of $37.02 billion, a PE ratio of 32.62 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. The firm had revenue of $5.80 billion during 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 quarterly 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 research analysts expect that Marriott International will post $4.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.33%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s payout ratio is presently 45.52%.
MAR has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on shares of Marriott International in a research note on Wednesday, April 26th. They issued a “neutral” rating on the stock. 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. Stifel Nicolaus restated a “hold” rating and issued a $95.00 target price (up previously from $87.00) on shares of Marriott International in a research note on Tuesday, May 9th. Instinet upped their target price on shares of Marriott International from $100.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Barclays PLC restated a “hold” rating and issued a $105.00 target price on shares of Marriott International in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $98.56.
In other Marriott International news, insider David S. Marriott sold 19,500 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $103.26, for a total value of $2,013,570.00. Following the completion of the sale, the insider now owns 638,636 shares in the company, valued at approximately $65,945,553.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Munoz sold 5,894 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $103.95, for a total transaction of $612,681.30. Following the completion of the sale, the director now owns 7,659 shares of the company’s stock, valued at approximately $796,153.05. The disclosure for this sale can be found here. Insiders sold a total of 41,216 shares of company stock valued at $4,270,892 in the last 90 days. Corporate insiders own 17.07% of the company’s stock.
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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