TD Asset Management Inc. Sells 65,986 Shares of Marriott International (MAR)
TD Asset Management Inc. lowered its stake in shares of Marriott International (NASDAQ:MAR) by 13.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,090 shares of the company’s stock after selling 65,986 shares during the period. TD Asset Management Inc.’s holdings in Marriott International were worth $43,142,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Marriott International by 2,076.2% in the first quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock valued at $1,787,379,000 after buying an additional 18,106,240 shares during the period. FMR LLC increased its position in shares of Marriott International by 112.2% in the first quarter. FMR LLC now owns 11,625,543 shares of the company’s stock valued at $1,094,894,000 after buying an additional 6,147,789 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Marriott International by 35.5% in the first quarter. TIAA CREF Investment Management LLC now owns 2,627,606 shares of the company’s stock valued at $247,468,000 after buying an additional 689,051 shares during the period. Teachers Advisors LLC increased its position in shares of Marriott International by 47.8% in the first quarter. Teachers Advisors LLC now owns 1,638,849 shares of the company’s stock valued at $154,347,000 after buying an additional 530,186 shares during the period. Finally, AXA increased its position in shares of Marriott International by 116.0% in the first quarter. AXA now owns 878,216 shares of the company’s stock valued at $82,710,000 after buying an additional 471,716 shares during the period. Hedge funds and other institutional investors own 67.06% of the company’s stock.
Shares of Marriott International (NASDAQ:MAR) opened at 103.95 on Wednesday. Marriott International has a one year low of $65.91 and a one year high of $110.51. The firm has a market capitalization of $39.39 billion, a P/E ratio of 36.82 and a beta of 1.36. The firm has a 50-day moving average of $102.51 and a 200-day moving average of $95.73. Marriott International also was the target of some unusual options trading on Monday. Traders purchased 9,942 call options on the stock. This represents an increase of approximately 568% compared to the average volume of 1,488 call options.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a return on equity of 25.59% and a net margin of 5.27%. The firm’s quarterly revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. On average, equities analysts predict that Marriott International will post $4.04 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on MAR. BidaskClub raised shares of Marriott International from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Robert W. Baird boosted their price target on shares of Marriott International from $101.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday. Stifel Nicolaus boosted their price target on shares of Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Marriott International from a “buy” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $109.00 price target (up previously from $92.00) on shares of Marriott International in a report on Monday, June 12th. 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 assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $98.44.
In related news, insider Argiris Kyriakidis sold 3,800 shares of the firm’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 owns 19,079 shares in the company, valued at $1,963,992.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony Capuano sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $100.72, for a total value of $503,600.00. Following the completion of the transaction, the executive vice president now owns 56,405 shares in the company, valued at approximately $5,681,111.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,016 shares of company stock worth $4,662,064. 17.07% of the stock is owned by company 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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