Bridgewater Wealth & Financial Management LLC Sells 856 Shares of Marriott International (MAR)
Bridgewater Wealth & Financial Management LLC reduced its stake in Marriott International (NASDAQ:MAR) by 7.3% during the second quarter, Holdings Channel reports. The institutional investor owned 10,888 shares of the company’s stock after selling 856 shares during the period. Bridgewater Wealth & Financial Management LLC’s holdings in Marriott International were worth $1,092,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of 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 valued at $1,787,379,000 after buying an additional 18,106,240 shares in the last quarter. FMR LLC boosted its stake 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 worth $1,094,894,000 after buying an additional 6,147,789 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake 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 worth $247,468,000 after buying an additional 689,051 shares during the last quarter. Teachers Advisors LLC boosted its stake 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 worth $154,347,000 after buying an additional 530,186 shares during the last quarter. Finally, AXA boosted its stake in shares of 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 last quarter. 67.11% of the stock is owned by institutional investors.
Marriott International (MAR) opened at 99.41 on Thursday. The firm has a market capitalization of $37.02 billion, a PE ratio of 32.63 and a beta of 1.36. Marriott International has a 1-year low of $65.91 and a 1-year high of $110.51. The company’s 50-day moving average is $101.93 and its 200 day moving average is $96.78.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The company’s revenue was up 48.5% on a year-over-year basis. On average, equities analysts expect that Marriott International will post $4.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s dividend payout ratio is currently 45.52%.
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MAR has been the subject of a number of analyst reports. Guggenheim initiated coverage on shares of Marriott International in a research note on Wednesday, April 26th. They issued a “neutral” rating for the company. BidaskClub cut shares of Marriott International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Barclays PLC restated a “hold” rating and issued a $105.00 price objective on shares of Marriott International in a research note on Friday, May 12th. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $109.00 price objective (up from $92.00) on shares of Marriott International in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $98.69.
In other news, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International stock in a transaction on Monday, August 14th. The stock was sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the completion of the sale, the insider now owns 493,896 shares of the company’s stock, valued at $49,310,576.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony Capuano sold 5,000 shares of Marriott International stock in a transaction on Friday, June 30th. The stock was sold at an average price of $100.72, for a total value of $503,600.00. Following the sale, 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. Insiders have sold 45,822 shares of company stock valued at $4,639,840 in the last three months. Insiders own 17.07% of the company’s stock.
About Marriott International
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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