Davy Asset Management Ltd Buys Shares of 8,190 Marriott International Inc (MAR)
Davy Asset Management Ltd bought a new stake in shares of Marriott International Inc (NASDAQ:MAR) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 8,190 shares of the company’s stock, valued at approximately $1,037,000.
A number of other hedge funds have also recently made changes to their positions in MAR. Glenmede Trust Co. NA boosted its position in shares of Marriott International by 19.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 913,451 shares of the company’s stock valued at $115,643,000 after purchasing an additional 145,812 shares during the period. HRT Financial LLC acquired a new position in shares of Marriott International in the 2nd quarter valued at $561,000. HPM Partners LLC boosted its position in shares of Marriott International by 9.9% in the 2nd quarter. HPM Partners LLC now owns 11,575 shares of the company’s stock valued at $1,465,000 after purchasing an additional 1,041 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Marriott International in the 2nd quarter valued at $102,000. Finally, Banco de Sabadell S.A acquired a new position in shares of Marriott International in the 2nd quarter valued at $714,000. 61.77% of the stock is owned by institutional investors and hedge funds.
MAR opened at $129.77 on Tuesday. Marriott International Inc has a fifty-two week low of $105.07 and a fifty-two week high of $149.21. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $44.27 billion, a PE ratio of 29.79, a PEG ratio of 1.88 and a beta of 1.34.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, August 23rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, August 22nd. Marriott International’s payout ratio is 37.61%.
In related news, Director Frederick A. Henderson acquired 1,640 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were acquired at an average cost of $120.84 per share, with a total value of $198,177.60. Following the purchase, the director now owns 1,640 shares of the company’s stock, valued at $198,177.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.99% of the stock is currently owned by company insiders.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Marriott International from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Jefferies Financial Group assumed coverage on Marriott International in a research note on Thursday, May 31st. They issued a “hold” rating and a $152.00 price objective for the company. BidaskClub downgraded Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 22nd. Morgan Stanley downgraded Marriott International from an “overweight” rating to an “equal” rating and set a $129.00 price objective for the company. in a research note on Tuesday, July 24th. Finally, Barclays reduced their price objective on Marriott International from $148.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 8th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $143.58.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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