Marriott International (MAR) EVP Stephanie Linnartz Sells 8,333 Shares of Stock
Marriott International (NASDAQ:MAR) EVP Stephanie Linnartz sold 8,333 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $122.82, for a total value of $1,023,459.06. Following the completion of the sale, the executive vice president now owns 28,263 shares in the company, valued at approximately $3,471,261.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Marriott International (MAR) opened at $125.91 on Tuesday. Marriott International has a 12 month low of $76.88 and a 12 month high of $126.24. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $45,750.00, a price-to-earnings ratio of 30.68, a P/E/G ratio of 3.14 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. equities analysts expect that Marriott International will post 4.24 earnings per share for the current year.
Marriott International announced that its board has authorized a share repurchase plan on Thursday, November 9th that allows the company to repurchase 30,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. AHL Partners LLP grew its holdings in Marriott International by 230.4% in the 2nd quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock valued at $1,967,000 after buying an additional 13,679 shares in the last quarter. Numeric Investors LLC acquired a new position in Marriott International in the 2nd quarter valued at $772,000. Wells Fargo & Company MN grew its holdings in Marriott International by 28.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock valued at $126,329,000 after buying an additional 275,382 shares in the last quarter. Asset Advisors Corp grew its holdings in Marriott International by 1.0% in the 3rd quarter. Asset Advisors Corp now owns 121,972 shares of the company’s stock valued at $13,449,000 after buying an additional 1,175 shares in the last quarter. Finally, Andra AP fonden grew its holdings in Marriott International by 82.4% in the 2nd quarter. Andra AP fonden now owns 24,800 shares of the company’s stock valued at $2,488,000 after buying an additional 11,200 shares in the last quarter. Institutional investors and hedge funds own 67.30% of the company’s stock.
Several equities research analysts have commented on MAR shares. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Stifel Nicolaus boosted their target price on Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird boosted their target price on Marriott International from $101.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $113.00 target price (up previously from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Marriott International currently has an average rating of “Buy” and an average target price of $108.62.
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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