Retirement Systems of Alabama Decreases Stake in Marriott International (NASDAQ:MAR)
Retirement Systems of Alabama reduced its stake in Marriott International (NASDAQ:MAR) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,639 shares of the company’s stock after selling 1,394 shares during the period. Retirement Systems of Alabama’s holdings in Marriott International were worth $15,111,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in Marriott International during the first quarter valued at $115,000. TrimTabs Asset Management LLC increased its stake in 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 during the last quarter. First Bank & Trust increased its stake in 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 during the last quarter. North Star Investment Management Corp. increased its stake in Marriott International by 3.3% in the second quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock valued at $159,000 after buying an additional 50 shares during the last quarter. Finally, Alexandria Capital LLC increased its stake in Marriott International by 0.7% in the second quarter. Alexandria Capital LLC now owns 1,644 shares of the company’s stock valued at $165,000 after buying an additional 12 shares during the last quarter. 67.06% of the stock is owned by hedge funds and other institutional investors.
Marriott International (NASDAQ:MAR) opened at 103.95 on Wednesday. The stock’s 50 day moving average price is $102.51 and its 200 day moving average price is $95.73. The company has a market capitalization of $39.39 billion, a PE ratio of 36.82 and a beta of 1.36. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51. Marriott International also was the recipient of some unusual options trading activity on Monday. Investors acquired 9,942 call options on the company. This is an increase of 568% compared to the typical daily volume of 1,488 call options.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 25.59%. The business’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. On average, equities analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
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Several analysts recently weighed in on the company. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, May 31st. Canaccord Genuity restated a “buy” rating and issued a $113.00 price target (up previously from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Instinet upped their price target on Marriott International from $100.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. BidaskClub upgraded Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upped their price target on Marriott International from $95.00 to $98.00 and gave the stock a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.44.
In other news, insider David S. Marriott sold 19,500 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $103.26, for a total transaction of $2,013,570.00. Following the sale, the insider now directly owns 638,636 shares of the company’s stock, valued at $65,945,553.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary K. Bush sold 1,200 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $100.89, for a total transaction of $121,068.00. Following the sale, the director now directly owns 1,101 shares in the company, valued at $111,079.89. The disclosure for this sale can be found here. Insiders have sold 45,016 shares of company stock worth $4,662,064 over the last three months. Corporate insiders own 17.07% of the company’s stock.
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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