Marriott International (NASDAQ:MAR) Shares Bought by Korea Investment CORP
Korea Investment CORP boosted its position in Marriott International (NASDAQ:MAR) by 94.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,880 shares of the company’s stock after buying an additional 37,771 shares during the period. Korea Investment CORP’s holdings in Marriott International were worth $7,812,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Marriott International by 2,076.2% in the first quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock worth $1,787,379,000 after buying an additional 18,106,240 shares during the period. FMR LLC increased its stake in Marriott International by 112.2% in the first quarter. FMR LLC now owns 11,625,543 shares of the company’s stock worth $1,094,894,000 after buying an additional 6,147,789 shares during the period. TIAA CREF Investment Management LLC increased its stake in 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 worth $247,468,000 after buying an additional 689,051 shares during the period. Teachers Advisors LLC increased its stake in Marriott International by 47.8% in the first quarter. Teachers Advisors LLC now owns 1,638,849 shares of the company’s stock worth $154,347,000 after buying an additional 530,186 shares during the period. Finally, AXA increased its stake in Marriott International by 116.0% in the first quarter. AXA now owns 878,216 shares of the company’s stock worth $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 101.35 on Thursday. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51. The firm has a market cap of $38.40 billion, a P/E ratio of 35.90 and a beta of 1.36. The stock’s 50 day moving average price is $102.42 and its 200-day moving average price is $96.25. Marriott International also saw unusually large options trading activity on Monday. Investors acquired 9,942 call options on the company. This is an increase of 568% compared to the average volume of 1,488 call options.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analysts’ expectations 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 last year, the firm posted $1.03 earnings per share. Equities research analysts anticipate that Marriott International will post $4.09 earnings per share for the current fiscal year.
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MAR has been the subject of a number of research analyst reports. J P Morgan Chase & Co restated an “overweight” rating and issued a $111.00 target price on shares of Marriott International in a research report on Friday, May 12th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Tuesday, May 16th. Canaccord Genuity reiterated a “buy” rating and set a $113.00 price objective (up previously from $100.00) on shares of Marriott International in a research report on Monday, May 8th. BidaskClub downgraded Marriott International from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Guggenheim assumed coverage on Marriott International in a research report on Wednesday, April 26th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $98.56.
In related news, insider David S. Marriott sold 19,500 shares of the firm’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 in the company, valued at $65,945,553.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George Munoz sold 5,894 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $103.95, for a total transaction of $612,681.30. Following the sale, the director now owns 7,659 shares in the company, valued at $796,153.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,216 shares of company stock worth $4,270,892. 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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