Mirae Asset Global Investments Co. Ltd. Grows Position in Marriott International Inc (MAR)
Mirae Asset Global Investments Co. Ltd. lifted its holdings in Marriott International Inc (NASDAQ:MAR) by 82.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,470 shares of the company’s stock after acquiring an additional 21,910 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Marriott International were worth $6,416,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in MAR. Sun Life Financial INC grew its stake in shares of Marriott International by 331.6% in the second quarter. Sun Life Financial INC now owns 807 shares of the company’s stock valued at $102,000 after acquiring an additional 620 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Marriott International in the second quarter valued at about $102,000. Fort L.P. acquired a new position in shares of Marriott International in the second quarter valued at about $114,000. Pathstone Family Office LLC acquired a new position in shares of Marriott International in the third quarter valued at about $132,000. Finally, CenterStar Asset Management LLC acquired a new position in shares of Marriott International in the third quarter valued at about $133,000. Institutional investors and hedge funds own 63.48% of the company’s stock.
A number of brokerages have issued reports on MAR. Zacks Investment Research downgraded shares of Marriott International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. BidaskClub lowered shares of Marriott International from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Jefferies Financial Group set a $124.00 price objective on shares of Marriott International and gave the company a “hold” rating in a report on Wednesday, November 7th. Robert W. Baird reiterated a “hold” rating and issued a $130.00 price objective (down previously from $133.00) on shares of Marriott International in a report on Friday, November 9th. Finally, Wells Fargo & Co set a $127.00 price objective on shares of Marriott International and gave the company a “hold” rating in a report on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $139.80.
Marriott International stock opened at $113.50 on Thursday. The company has a debt-to-equity ratio of 3.75, a current ratio of 0.46 and a quick ratio of 0.46. Marriott International Inc has a 52-week low of $106.96 and a 52-week high of $149.21. The company has a market cap of $38.72 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.59 and a beta of 1.37.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, November 5th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.39. Marriott International had a net margin of 7.95% and a return on equity of 68.01%. The firm had revenue of $5.05 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business earned $1.10 EPS. The company’s revenue was down .6% compared to the same quarter last year. Analysts forecast that Marriott International Inc will post 6.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Wednesday, November 21st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $1.64 annualized dividend and a yield of 1.44%. Marriott International’s payout ratio is 37.61%.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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