Schroder Investment Management Group Decreases Stake in Marriott International (MAR)
Schroder Investment Management Group decreased its stake in Marriott International (NASDAQ:MAR) by 93.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,300 shares of the company’s stock after selling 31,162 shares during the period. Schroder Investment Management Group’s holdings in Marriott International were worth $218,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MAR. Israel Discount Bank of New York GFN acquired a new position in shares of Marriott International during the fourth quarter valued at approximately $116,000. High Point Bank & Trust Co. increased its position in shares of Marriott International by 11.5% in the fourth quarter. High Point Bank & Trust Co. now owns 1,450 shares of the company’s stock valued at $120,000 after buying an additional 149 shares in the last quarter. TrimTabs Asset Management LLC increased its position in shares of Marriott International by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,562 shares of the company’s stock valued at $147,000 after buying an additional 736 shares in the last quarter. Glassman Wealth Services increased its position in shares of Marriott International by 0.3% in the fourth quarter. Glassman Wealth Services now owns 1,570 shares of the company’s stock valued at $130,000 after buying an additional 5 shares in the last quarter. Finally, First Bank & Trust increased its position in shares of Marriott International by 3.6% in the first quarter. First Bank & Trust now owns 1,681 shares of the company’s stock valued at $158,000 after buying an additional 59 shares in the last quarter. Institutional investors own 68.34% of the company’s stock.
Marriott International (MAR) opened at 105.93 on Tuesday. The firm has a 50-day moving average price of $103.41 and a 200 day moving average price of $91.45. The firm has a market capitalization of $40.14 billion, a PE ratio of 37.52 and a beta of 1.31. Marriott International has a one year low of $60.87 and a one year high of $110.51.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, May 8th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. The firm had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 47.4% on a year-over-year basis. Analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, May 19th will be issued a $0.33 dividend. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Wednesday, May 17th. Marriott International’s dividend payout ratio (DPR) is presently 47.48%.
Several research firms recently weighed in on MAR. Royal Bank Of Canada reissued an “outperform” rating and set a $109.00 price target (up from $92.00) on shares of Marriott International in a report on Monday, June 12th. Stifel Nicolaus reissued a “hold” rating and set a $95.00 price target (up from $87.00) on shares of Marriott International in a report on Tuesday, May 9th. Barclays PLC reissued a “hold” rating and set a $105.00 price target on shares of Marriott International in a report on Friday, May 12th. Evercore ISI cut Marriott International from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Finally, Instinet lifted their price target on Marriott International from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $97.97.
In related news, insider David Grissen sold 2,589 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $105.66, for a total value of $273,553.74. Following the sale, the insider now owns 45,201 shares in the company, valued at $4,775,937.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Blake Marriott sold 3,733 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $107.44, for a total value of $401,073.52. Following the completion of the sale, the insider now owns 145,601 shares in the company, valued at approximately $15,643,371.44. The disclosure for this sale can be found here. Insiders sold 91,354 shares of company stock worth $9,025,239 in the last quarter. 17.07% of the stock is currently owned by company insiders.
About Marriott International
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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