Public Sector Pension investment Board Sells 36,100 Shares of Marriott International (MAR)
Public Sector Pension investment Board trimmed its holdings in Marriott International (NASDAQ:MAR) by 50.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 35,541 shares of the company’s stock after selling 36,100 shares during the quarter. Public Sector Pension investment Board’s holdings in Marriott International were worth $3,565,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Marriott International in the 1st quarter worth approximately $115,000. Baker Ellis Asset Management LLC bought a new stake in shares of Marriott International in the 2nd quarter worth approximately $133,000. TrimTabs Asset Management LLC lifted its holdings in shares of Marriott International by 89.1% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock worth $147,000 after acquiring an additional 736 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of Marriott International by 3.3% in the 2nd quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock worth $159,000 after acquiring an additional 50 shares during the last quarter. Finally, Regal Wealth Group Inc. lifted its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.
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In other news, insider Argiris Kyriakidis sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $107.84, for a total transaction of $323,520.00. Following the transaction, the insider now owns 16,079 shares in the company, valued at $1,733,959.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary K. Bush sold 1,200 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $100.89, for a total value 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. Over the last quarter, insiders have sold 110,927 shares of company stock valued at $11,316,268. Corporate insiders own 11.32% of the company’s stock.
MAR has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub raised shares of Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $109.00 target price (up from $92.00) on shares of Marriott International in a research note on Monday, June 12th. Robert W. Baird reaffirmed a “hold” rating and issued a $103.00 target price on shares of Marriott International in a research note on Sunday, September 17th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $101.00 target price (up from $98.00) on shares of Marriott International in a research note on Monday, August 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $100.81.
Marriott International (MAR) opened at 107.88 on Friday. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51. The firm’s 50-day moving average is $102.54 and its 200-day moving average is $99.47. The stock has a market capitalization of $40.18 billion, a P/E ratio of 35.41 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 48.5% compared to the same quarter last year. On average, equities analysts expect that Marriott International will post $4.13 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. The ex-dividend date is Tuesday, August 22nd. This represents a $1.32 annualized dividend and a dividend yield of 1.22%. Marriott International’s dividend payout ratio (DPR) is 45.52%.
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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