Suntrust Banks Inc. Lowers Stake in Marriott International Inc (MAR)
Suntrust Banks Inc. cut its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,715 shares of the company’s stock after selling 8,399 shares during the period. Suntrust Banks Inc.’s holdings in Marriott International were worth $7,833,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. California Public Employees Retirement System grew its position in Marriott International by 0.8% in the 3rd quarter. California Public Employees Retirement System now owns 823,377 shares of the company’s stock valued at $90,786,000 after buying an additional 6,837 shares during the last quarter. Rockefeller Financial Services Inc. grew its position in Marriott International by 2,222.2% in the 4th quarter. Rockefeller Financial Services Inc. now owns 41,800 shares of the company’s stock valued at $5,674,000 after buying an additional 40,000 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Marriott International by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 467,559 shares of the company’s stock valued at $51,553,000 after buying an additional 3,140 shares during the last quarter. Wells Fargo & Company MN grew its position in Marriott International by 3.7% in the 3rd quarter. Wells Fargo & Company MN now owns 1,305,913 shares of the company’s stock valued at $143,989,000 after buying an additional 46,517 shares during the last quarter. Finally, Carderock Capital Management Inc. grew its position in Marriott International by 7.9% in the 3rd quarter. Carderock Capital Management Inc. now owns 11,397 shares of the company’s stock valued at $1,257,000 after buying an additional 839 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.
A number of research firms recently weighed in on MAR. Morgan Stanley lifted their price objective on shares of Marriott International from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $115.00 price objective (up from $98.00) on shares of Marriott International in a research report on Wednesday, November 8th. SunTrust Banks lifted their price objective on shares of Marriott International to $108.00 and gave the company a “hold” rating in a research report on Thursday, November 9th. BidaskClub upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 21st. Finally, Robert W. Baird lifted their price objective on shares of Marriott International from $111.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Marriott International presently has an average rating of “Buy” and an average target price of $122.38.
Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, February 14th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.61 billion. Marriott International had a return on equity of 36.15% and a net margin of 5.99%. Marriott International’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. equities research analysts expect that Marriott International Inc will post 5.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, February 22nd. Marriott International’s dividend payout ratio (DPR) is presently 36.67%.
Marriott International declared that its board has initiated a stock repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Susan C. Schwab purchased 250 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average price of $141.47 per share, with a total value of $35,367.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Anthony Capuano sold 19,510 shares of Marriott International stock in a transaction on Monday, December 18th. The stock was sold at an average price of $133.51, for a total value of $2,604,780.10. Following the transaction, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at approximately $3,091,958.09. The disclosure for this sale can be found here. Insiders have sold a total of 144,974 shares of company stock valued at $19,851,576 in the last ninety days. Corporate insiders own 11.32% of the company’s stock.
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Marriott International 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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