Bruce W. Duncan Sells 1,808 Shares of Marriott International Inc (MAR) Stock
Marriott International Inc (NASDAQ:MAR) Director Bruce W. Duncan sold 1,808 shares of Marriott International stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $129.70, for a total value of $234,497.60. Following the completion of the transaction, the director now directly owns 40,008 shares in the company, valued at $5,189,037.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Marriott International Inc (MAR) opened at $128.76 on Wednesday. Marriott International Inc has a 1-year low of $81.04 and a 1-year high of $129.99. The stock has a market capitalization of $47,147.66, a price-to-earnings ratio of 31.62, a P/E/G ratio of 3.23 and a beta of 1.35. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Marriott International’s revenue was up 43.7% compared to the same quarter last year. analysts forecast that Marriott International Inc will post 4.24 EPS for the current fiscal year.
Marriott International announced that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 1.03%. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC grew its holdings in Marriott International by 1,490.1% during the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after buying an additional 1,058 shares in the last quarter. Grove Bank & Trust grew its holdings in Marriott International by 214.8% during the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after buying an additional 840 shares in the last quarter. First Quadrant L P CA bought a new stake in Marriott International during the third quarter worth $136,000. Carroll Financial Associates Inc. grew its holdings in Marriott International by 175.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after buying an additional 843 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Marriott International by 66.2% during the third quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock worth $163,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
MAR has been the topic of several recent analyst reports. BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Sanford C. Bernstein lowered Marriott International from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 16th. Barclays boosted their price target on Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 28th. Deutsche Bank reissued a “hold” rating and issued a $124.00 price target on shares of Marriott International in a research note on Wednesday, December 6th. Finally, Robert W. Baird set a $103.00 price target on Marriott International and gave the company a “hold” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Marriott International presently has a consensus rating of “Buy” and a consensus target price of $110.86.
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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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