Norris Perne & French LLP MI Has $10.69 Million Holdings in Marriott International (MAR)
Norris Perne & French LLP MI raised its stake in Marriott International (NASDAQ:MAR) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,991 shares of the company’s stock after purchasing an additional 2,032 shares during the quarter. Marriott International makes up about 1.7% of Norris Perne & French LLP MI’s portfolio, making the stock its 15th biggest holding. Norris Perne & French LLP MI’s holdings in Marriott International were worth $10,694,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of MAR. Advisory Services Network LLC grew its stake in Marriott International by 1,490.1% in the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after purchasing an additional 1,058 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Marriott International in the first quarter valued at approximately $115,000. Baker Ellis Asset Management LLC bought a new position in shares of Marriott International during the 2nd quarter worth approximately $133,000. First Quadrant L P CA bought a new position in shares of Marriott International during the 3rd quarter worth approximately $136,000. Finally, Carroll Financial Associates Inc. boosted its stake in shares of Marriott International by 175.6% during the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after acquiring an additional 843 shares during the period. Hedge funds and other institutional investors own 66.06% of the company’s stock.
In other Marriott International news, EVP Edward A. Ryan sold 4,453 shares of Marriott International stock in a transaction on Friday, September 1st. The stock was sold at an average price of $103.81, for a total value of $462,265.93. Following the completion of the transaction, the executive vice president now directly owns 80,406 shares of the company’s stock, valued at approximately $8,346,946.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Capuano sold 13,736 shares of Marriott International stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $107.78, for a total value of $1,480,466.08. Following the completion of the transaction, the executive vice president now directly owns 42,669 shares of the company’s stock, valued at $4,598,864.82. The disclosure for this sale can be found here. Insiders sold a total of 110,727 shares of company stock valued at $11,339,600 over the last ninety days. Insiders own 11.32% of the company’s stock.
MAR has been the subject of several research analyst reports. Berenberg Bank reiterated a “buy” rating and set a $125.00 target price on shares of Marriott International in a research note on Friday, August 18th. BidaskClub downgraded Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Thursday, October 26th. Robert W. Baird reiterated a “hold” rating and set a $103.00 target price on shares of Marriott International in a research note on Sunday, September 17th. Finally, Stifel Nicolaus lifted their target price on Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $101.36.
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Shares of Marriott International (MAR) traded up $0.47 during midday trading on Monday, reaching $122.02. The company’s stock had a trading volume of 510,620 shares, compared to its average volume of 2,143,397. The firm has a market cap of $45,267.66, a PE ratio of 31.17, a PEG ratio of 3.20 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.53 and a quick ratio of 0.53. Marriott International has a 52-week low of $68.68 and a 52-week high of $121.58.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ 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 return on equity of 26.26% and a net margin of 5.27%. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. equities research analysts expect that Marriott International will post 4.14 earnings per share for the current fiscal year.
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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