Marriott International (NASDAQ:MAR) Shares Sold by Rhumbline Advisers
Rhumbline Advisers cut its position in Marriott International (NASDAQ:MAR) by 10.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 558,643 shares of the company’s stock after selling 68,536 shares during the period. Rhumbline Advisers’ holdings in Marriott International were worth $56,037,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Dumont & Blake Investment Advisors LLC raised its position in Marriott International by 0.5% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 8,741 shares of the company’s stock valued at $823,000 after buying an additional 45 shares in the last quarter. Carderock Capital Management Inc. raised its position in Marriott International by 7.1% in the first quarter. Carderock Capital Management Inc. now owns 10,173 shares of the company’s stock valued at $958,000 after buying an additional 678 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Marriott International during the second quarter valued at $562,000. Fundsmith LLP raised its position in Marriott International by 4.7% in the first quarter. Fundsmith LLP now owns 184,690 shares of the company’s stock valued at $17,394,000 after buying an additional 8,254 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its position in Marriott International by 1.6% in the first quarter. Wetherby Asset Management Inc. now owns 6,809 shares of the company’s stock valued at $641,000 after buying an additional 104 shares in the last quarter. 67.06% of the stock is currently owned by hedge funds and other institutional investors.
Marriott International (NASDAQ MAR) traded down 0.59% during midday trading on Friday, reaching $98.93. The company’s stock had a trading volume of 158,775 shares. Marriott International has a 52 week low of $65.91 and a 52 week high of $110.51. The firm has a market capitalization of $36.84 billion, a PE ratio of 32.47 and a beta of 1.36. The stock has a 50 day moving average of $102.29 and a 200 day moving average of $96.28.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.02 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The company’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, equities research analysts predict that Marriott International will post $4.10 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.33%. Marriott International’s dividend payout ratio (DPR) is 45.52%.
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Several equities analysts have recently weighed in on MAR shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $113.00 price objective (up from $100.00) on shares of Marriott International in a research note on Monday, May 8th. Instinet lifted their price objective on Marriott International from $100.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, May 16th. BidaskClub raised Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Marriott International in a research note on Friday, May 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Marriott International has an average rating of “Buy” and a consensus price target of $98.56.
In other Marriott International news, Director Mary K. Bush sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $100.89, for a total value of $121,068.00. Following the completion of the transaction, the director now owns 1,101 shares of the company’s stock, valued at approximately $111,079.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Anthony Capuano sold 5,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 56,405 shares of the company’s stock, valued at approximately $5,681,111.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,216 shares of company stock valued at $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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