British Airways Pensions Investment Management Ltd Cuts Stake in Marriott International (NASDAQ:MAR)
British Airways Pensions Investment Management Ltd decreased its position in Marriott International (NASDAQ:MAR) by 7.7% during the second quarter, Holdings Channel reports. The fund owned 214,267 shares of the company’s stock after selling 17,943 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Marriott International were worth $21,481,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in MAR. Macquarie Group Ltd. raised its stake in shares of Marriott International by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 205,659 shares of the company’s stock worth $17,004,000 after buying an additional 49,493 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Marriott International by 5.1% in the first quarter. CENTRAL TRUST Co now owns 2,902 shares of the company’s stock worth $273,000 after buying an additional 140 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Marriott International during the first quarter worth approximately $312,000. Creative Planning raised its stake in shares of Marriott International by 11.9% in the first quarter. Creative Planning now owns 26,482 shares of the company’s stock worth $2,494,000 after buying an additional 2,807 shares during the last quarter. Finally, Sheets Smith Wealth Management acquired a new stake in shares of Marriott International during the first quarter worth approximately $223,000. Hedge funds and other institutional investors own 67.06% of the company’s stock.
Shares of Marriott International (MAR) opened at 105.02 on Monday. Marriott International has a 1-year low of $65.91 and a 1-year high of $110.51. The stock has a market capitalization of $39.79 billion, a P/E ratio of 37.20 and a beta of 1.36. The stock’s 50 day moving average price is $102.52 and its 200-day moving average price is $95.55. Marriott International also saw unusually large options trading on Friday. Traders acquired 7,596 put options on the stock. This is an increase of 635% compared to the average daily volume of 1,033 put options.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. Marriott International’s revenue for the quarter was up 47.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities research analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
A number of equities research analysts have commented on MAR shares. Goldman Sachs Group, Inc. (The) lowered Marriott International from a “conviction-buy” rating to a “buy” rating and set a $105.00 price objective for the company. in a research report on Tuesday, April 11th. Vetr upgraded Marriott International from a “hold” rating to a “buy” rating and set a $96.50 price objective for the company in a research report on Tuesday, April 11th. Guggenheim started coverage on Marriott International in a research note on Wednesday, April 26th. They set a “neutral” rating for the company. Canaccord Genuity reaffirmed a “buy” rating and set a $113.00 price target (up from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $95.00 price target (up from $87.00) on shares of Marriott International in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $97.97.
In other news, Director Mary K. Bush sold 1,200 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $100.89, for a total transaction of $121,068.00. Following the completion of the transaction, the director now directly owns 1,101 shares of the company’s stock, valued at $111,079.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Argiris Kyriakidis sold 3,800 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $102.94, for a total value of $391,172.00. Following the transaction, the insider now directly owns 19,079 shares of the company’s stock, valued at $1,963,992.26. The disclosure for this sale can be found here. Insiders have sold 55,117 shares of company stock valued at $5,685,295 over the last ninety days. 17.07% of the stock is owned by insiders.
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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