Jackson Park Capital LLC Invests $2,193,000 in Marriott International Inc. (MAR)
Jackson Park Capital LLC acquired a new position in shares of Marriott International Inc. (NASDAQ:MAR) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 33,000 shares of the company’s stock, valued at approximately $2,193,000. Marriott International accounts for 3.0% of Jackson Park Capital LLC’s holdings, making the stock its 13th largest position.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MAR. North Star Investment Management Corp. increased its stake in Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock worth $102,000 after buying an additional 350 shares during the last quarter. Monetary Management Group Inc. bought a new stake in Marriott International during the first quarter worth $126,000. Gradient Investments LLC increased its stake in Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock worth $130,000 after buying an additional 8 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in Marriott International during the first quarter worth $142,000. Finally, Mercer Capital Advisers Inc. increased its stake in Marriott International by 250.0% in the second quarter. Mercer Capital Advisers Inc. now owns 2,800 shares of the company’s stock worth $186,000 after buying an additional 2,000 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.
Marriott International Inc. (NASDAQ:MAR) traded down 0.34% on Friday, hitting $67.28. The stock had a trading volume of 2,130,638 shares. The stock has a 50 day moving average price of $69.82 and a 200 day moving average price of $68.86. Marriott International Inc. has a 1-year low of $56.43 and a 1-year high of $79.88. The company has a market cap of $17.12 billion, a P/E ratio of 20.05 and a beta of 1.28.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The business earned $3.90 billion during the quarter, compared to analyst estimates of $3.91 billion. Marriott International had a negative return on equity of 25.25% and a net margin of 5.87%. Marriott International’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.82 EPS. On average, equities research analysts expect that Marriott International Inc. will post $3.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 23rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Marriott International’s dividend payout ratio (DPR) is 35.71%.
MAR has been the subject of a number of recent analyst reports. Telsey Advisory Group cut their target price on Marriott International from $74.00 to $70.00 and set a “market perform” rating for the company in a research report on Friday, September 23rd. Vetr downgraded Marriott International from a “buy” rating to a “hold” rating and set a $74.52 price objective for the company. in a research report on Monday, August 1st. Morgan Stanley upgraded Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 price objective for the company in a research report on Monday, September 26th. Stifel Nicolaus upped their price objective on Marriott International from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday, September 26th. Finally, Sanford C. Bernstein initiated coverage on Marriott International in a research report on Thursday, September 8th. They set an “outperform” rating and a $87.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Marriott International has an average rating of “Buy” and an average price target of $78.09.
In other Marriott International news, major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 12,223,365 shares in the company, valued at approximately $857,346,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony Capuano sold 22,538 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $73.60, for a total value of $1,658,796.80. Following the transaction, the executive vice president now owns 76,184 shares in the company, valued at approximately $5,607,142.40. The disclosure for this sale can be found here. Company 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 operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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