Marriott International Inc. (MAR) Stake Raised by Sandy Spring Bank
Sandy Spring Bank raised its position in Marriott International Inc. (NASDAQ:MAR) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,812 shares of the company’s stock after buying an additional 40 shares during the period. Sandy Spring Bank’s holdings in Marriott International were worth $1,670,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Jennison Associates LLC raised its position in Marriott International by 1.4% in the third quarter. Jennison Associates LLC now owns 15,651,744 shares of the company’s stock worth $1,053,832,000 after buying an additional 214,904 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Marriott International by 10.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 5,789,437 shares of the company’s stock worth $384,766,000 after buying an additional 532,473 shares in the last quarter. Capital Research Global Investors raised its position in Marriott International by 39.4% in the second quarter. Capital Research Global Investors now owns 4,329,447 shares of the company’s stock worth $287,735,000 after buying an additional 1,224,450 shares in the last quarter. Bank of New York Mellon Corp raised its position in Marriott International by 42.2% in the third quarter. Bank of New York Mellon Corp now owns 3,665,774 shares of the company’s stock worth $246,817,000 after buying an additional 1,087,597 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Marriott International by 1.0% in the second quarter. BlackRock Fund Advisors now owns 3,002,539 shares of the company’s stock worth $199,549,000 after buying an additional 30,517 shares in the last quarter. 63.96% of the stock is currently owned by institutional investors.
Marriott International Inc. (NASDAQ:MAR) traded down 0.42% on Wednesday, hitting $78.78. The company’s stock had a trading volume of 3,540,334 shares. The firm has a 50 day moving average of $71.28 and a 200-day moving average of $69.54. The stock has a market cap of $30.76 billion, a PE ratio of 28.05 and a beta of 1.23. Marriott International Inc. has a 12 month low of $56.43 and a 12 month high of $79.39.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, November 7th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Marriott International Inc. will post $3.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, November 24th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. Marriott International’s payout ratio is 42.25%.
A number of equities analysts have commented on MAR shares. Zacks Investment Research lowered Marriott International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. Sanford C. Bernstein started coverage on Marriott International in a research report on Thursday, September 8th. They set an “outperform” rating and a $87.00 target price for the company. Telsey Advisory Group dropped 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 “strong-buy” rating to a “buy” rating and set a $78.19 target price for the company. in a research report on Monday, November 7th. Finally, Stifel Nicolaus boosted their target price on Marriott International from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. Marriott International has an average rating of “Hold” and a consensus price target of $76.59.
In other Marriott International news, major shareholder Richard E. Marriott sold 71,287 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $70.14, for a total value of $5,000,070.18. Following the transaction, the insider now owns 12,223,365 shares in the company, valued at $857,346,821.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider J W. Marriott, Jr. sold 28,515 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $70.14, for a total value of $2,000,042.10. Following the completion of the transaction, the insider now owns 240,024 shares in the company, valued at approximately $16,835,283.36. The disclosure for this sale can be found here. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
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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