Gofen & Glossberg LLC IL Continues to Hold Position in Marriott International (MAR)
Gofen & Glossberg LLC IL continued to hold its position in Marriott International (NASDAQ:MAR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,723 shares of the company’s stock at the close of the second quarter. Gofen & Glossberg LLC IL’s holdings in Marriott International were worth $273,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MAR. Oppenheimer Asset Management Inc. bought a new position in shares of Marriott International during the 1st quarter valued at approximately $115,000. Baker Ellis Asset Management LLC bought a new position in shares of Marriott International during the 2nd quarter valued at approximately $133,000. North Star Investment Management Corp. boosted its position in shares of Marriott International by 3.3% during the 2nd quarter. North Star Investment Management Corp. now owns 1,583 shares of the company’s stock valued at $159,000 after acquiring an additional 50 shares during the last quarter. Regal Wealth Group Inc. boosted its position in shares of Marriott International by 0.3% during the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock valued at $164,000 after acquiring an additional 5 shares during the last quarter. Finally, Alexandria Capital LLC boosted its position in shares of Marriott International by 0.7% during the 2nd quarter. Alexandria Capital LLC now owns 1,644 shares of the company’s stock valued at $165,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 65.85% of the company’s stock.
In other news, insider David S. Marriott sold 8,400 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now owns 629,136 shares of the company’s stock, valued at approximately $63,234,459.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $99.84, for a total value of $2,995,200.00. Following the completion of the transaction, the insider now directly owns 493,896 shares in the company, valued at approximately $49,310,576.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,727 shares of company stock worth $11,339,600. Corporate insiders own 11.32% of the company’s stock.
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Several analysts recently weighed in on MAR shares. Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 30th. BidaskClub lowered Marriott International from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Berenberg Bank restated a “buy” rating and set a $125.00 price target on shares of Marriott International in a report on Friday, August 18th. J P Morgan Chase & Co restated an “overweight” rating and set a $113.00 price target (up previously from $111.00) on shares of Marriott International in a report on Wednesday, August 9th. Finally, Robert W. Baird restated a “hold” rating and set a $103.00 price target on shares of Marriott International in a report on Sunday, September 17th. One investment 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 stock currently has a consensus rating of “Buy” and an average price target of $99.68.
Marriott International (MAR) traded up 0.39% during mid-day trading on Wednesday, reaching $115.49. The company’s stock had a trading volume of 245,204 shares. Marriott International has a 12-month low of $65.91 and a 12-month high of $115.90. The stock has a market cap of $43.01 billion, a price-to-earnings ratio of 37.90 and a beta of 1.36. The firm’s 50 day moving average price is $107.45 and its 200 day moving average price is $102.24.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 48.5% on a year-over-year basis. On average, equities analysts predict that Marriott International will post $4.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 24th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is presently 45.52%.
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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