Marriott International (NASDAQ:MAR) Position Increased by NGAM Advisors L.P.
NGAM Advisors L.P. raised its stake in shares of Marriott International (NASDAQ:MAR) by 25.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,083 shares of the company’s stock after buying an additional 2,851 shares during the period. NGAM Advisors L.P.’s holdings in Marriott International were worth $1,413,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in MAR. Windward Capital Management Co. CA increased its position in Marriott International by 1.8% in the first quarter. Windward Capital Management Co. CA now owns 144,078 shares of the company’s stock valued at $13,569,000 after buying an additional 2,567 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Marriott International during the first quarter valued at approximately $290,000. Huntington National Bank increased its position in Marriott International by 6.2% in the first quarter. Huntington National Bank now owns 260,806 shares of the company’s stock valued at $24,563,000 after buying an additional 15,307 shares during the last quarter. American Economic Planning Group Inc. ADV purchased a new position in Marriott International during the first quarter valued at approximately $204,000. Finally, Boys Arnold & Co. Inc. purchased a new position in Marriott International during the first quarter valued at approximately $205,000. 67.11% of the stock is owned by institutional investors.
Marriott International (NASDAQ MAR) opened at 100.07 on Tuesday. The company has a market capitalization of $37.27 billion, a PE ratio of 32.84 and a beta of 1.36. Marriott International has a 52 week low of $65.91 and a 52 week high of $110.51. The stock’s 50 day moving average price is $102.05 and its 200-day moving average price is $96.65.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, topping the 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 business’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities research analysts predict that Marriott International will post $4.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s dividend payout ratio is 45.52%.
Several equities analysts recently commented on MAR shares. Canaccord Genuity reiterated a “buy” rating and issued a $113.00 price objective (up previously from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Instinet increased their target price on Marriott International from $100.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research report on Tuesday, May 16th. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Barclays PLC restated a “hold” rating and set a $105.00 target price on shares of Marriott International in a research report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $98.69.
In other news, insider David Grissen sold 2,589 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $105.66, for a total transaction of $273,553.74. Following the sale, the insider now directly owns 45,201 shares in the company, valued at approximately $4,775,937.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony Capuano sold 5,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $100.72, for a total transaction of $503,600.00. Following the sale, the executive vice president now owns 56,405 shares in the company, valued at $5,681,111.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,822 shares of company stock worth $1,644,640 over the last 90 days. 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.
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