Advisors Asset Management Inc. Has $314,000 Position in Marriott International Inc. (MAR)
Advisors Asset Management Inc. cut its stake in shares of Marriott International Inc. (NASDAQ:MAR) by 23.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,721 shares of the company’s stock after selling 1,423 shares during the period. Advisors Asset Management Inc.’s holdings in Marriott International were worth $314,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of Marriott International by 69.4% in the second quarter. Ameriprise Financial Inc. now owns 2,505,197 shares of the company’s stock valued at $166,495,000 after buying an additional 1,026,134 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Marriott International by 6.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,256,964 shares of the company’s stock valued at $374,191,000 after buying an additional 327,672 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Marriott International during the second quarter valued at about $17,989,000. Huntington National Bank boosted its stake in shares of Marriott International by 489.9% in the second quarter. Huntington National Bank now owns 218,342 shares of the company’s stock valued at $14,511,000 after buying an additional 181,331 shares during the last quarter. Finally, Tiverton Asset Management LLC bought a new stake in shares of Marriott International during the first quarter valued at about $12,852,000. Institutional investors and hedge funds own 73.73% of the company’s stock.
Shares of Marriott International Inc. (NASDAQ:MAR) traded up 0.34% on Friday, hitting $67.33. The company had a trading volume of 6,088,174 shares. Marriott International Inc. has a 12 month low of $56.43 and a 12 month high of $79.88. The stock has a market cap of $17.13 billion, a PE ratio of 20.06 and a beta of 1.25. The company has a 50-day moving average of $70.42 and a 200 day moving average of $68.98.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.91 billion. Marriott International had a net margin of 5.87% and a negative return on equity of 25.25%. Marriott International’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts anticipate that Marriott International Inc. will post $3.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 23rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $1.20 annualized dividend and a yield of 1.78%. Marriott International’s dividend payout ratio (DPR) is 35.71%.
Several analysts have recently issued reports on MAR shares. Telsey Advisory Group reduced their price objective on Marriott International from $74.00 to $70.00 and set a “market perform” rating on the stock in a research note on Friday, September 23rd. Barclays PLC set a $80.00 price target on Marriott International and gave the company a “hold” rating in a research note on Friday, September 23rd. Vetr upgraded Marriott International from a “buy” rating to a “strong-buy” rating and set a $75.10 price target on the stock in a research note on Monday, June 27th. Sanford C. Bernstein assumed coverage on Marriott International in a research note on Thursday, September 8th. They issued an “outperform” rating and a $87.00 price target on the stock. Finally, Credit Agricole SA upgraded Marriott International from an “underperform” rating to an “outperform” rating in a research note on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $78.09.
In other Marriott International news, EVP Anthony Capuano sold 22,538 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $73.60, for a total value of $1,658,796.80. Following the completion of the transaction, the executive vice president now owns 76,184 shares in the company, valued at approximately $5,607,142.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $70.14, for a total transaction of $5,000,070.18. Following the completion of the transaction, the insider now owns 12,223,365 shares of the company’s stock, valued at approximately $857,346,821.10. The disclosure for this sale can be found here. Corporate insiders own 17.07% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It also develops, operates and markets residential properties, and provides services to home or condominium owner associations.
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