Cibc World Markets Corp Has $7.23 Million Stake in Marriott International (MAR)
Cibc World Markets Corp grew its holdings in shares of Marriott International (NASDAQ:MAR) by 119.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,047 shares of the company’s stock after purchasing an additional 39,191 shares during the period. Cibc World Markets Corp’s holdings in Marriott International were worth $7,227,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of MAR. BlackRock Inc. lifted its holdings in shares of Marriott International by 2,076.2% during the 1st quarter. BlackRock Inc. now owns 18,978,323 shares of the company’s stock valued at $1,787,379,000 after purchasing an additional 18,106,240 shares during the last quarter. FMR LLC lifted its holdings in shares of Marriott International by 112.2% during the 1st quarter. FMR LLC now owns 11,625,543 shares of the company’s stock valued at $1,094,894,000 after purchasing an additional 6,147,789 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Marriott International by 35.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 2,627,606 shares of the company’s stock valued at $247,468,000 after purchasing an additional 689,051 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Marriott International by 385.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 707,256 shares of the company’s stock valued at $70,945,000 after purchasing an additional 561,707 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in shares of Marriott International by 47.8% during the 1st quarter. Teachers Advisors LLC now owns 1,638,849 shares of the company’s stock valued at $154,347,000 after purchasing an additional 530,186 shares during the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.
Several analysts have recently commented on the company. Robert W. Baird increased their price objective on Marriott International from $101.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a report on Monday, July 24th. UBS AG reiterated a “neutral” rating and set a $101.00 price objective (up previously from $98.00) on shares of Marriott International in a report on Monday, August 14th. Zacks Investment Research lowered Marriott International from a “buy” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $109.00 price objective (up previously from $92.00) on shares of Marriott International in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $100.81.
In other news, insider Argiris Kyriakidis sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $107.84, for a total transaction of $323,520.00. Following the transaction, the insider now directly owns 16,079 shares in the company, valued at $1,733,959.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Anthony Capuano sold 5,000 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $100.72, for a total transaction of $503,600.00. Following the transaction, the executive vice president now owns 56,405 shares in the company, valued at $5,681,111.60. The disclosure for this sale can be found here. Insiders sold 110,927 shares of company stock valued at $11,316,268 over the last ninety days. Corporate insiders own 11.32% of the company’s stock.
Shares of Marriott International (MAR) opened at 107.88 on Monday. The firm has a market capitalization of $40.18 billion, a P/E ratio of 35.41 and a beta of 1.36. The firm’s 50-day moving average price is $102.54 and its 200 day moving average price is $99.47. Marriott International has a 12 month low of $65.91 and a 12 month high of $110.51.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business’s revenue was up 48.5% compared to the same quarter last year. Analysts anticipate that Marriott International will post $4.13 earnings per share for the current fiscal year.
The firm 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 $0.33 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.22%. Marriott International’s payout ratio is 45.52%.
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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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