137,544 Shares in Marriott International Inc (MAR) Acquired by Fundsmith Equity Fund L.P.
Fundsmith Equity Fund L.P. bought a new stake in Marriott International Inc (NASDAQ:MAR) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 137,544 shares of the company’s stock, valued at approximately $17,412,000. Marriott International comprises approximately 0.1% of Fundsmith Equity Fund L.P.’s holdings, making the stock its 17th largest position.
Several other hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its position in shares of Marriott International by 2.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,121,792 shares of the company’s stock worth $142,019,000 after buying an additional 30,389 shares in the last quarter. Korea Investment CORP raised its position in shares of Marriott International by 5.4% in the second quarter. Korea Investment CORP now owns 124,060 shares of the company’s stock worth $15,706,000 after buying an additional 6,400 shares in the last quarter. Sei Investments Co. raised its position in shares of Marriott International by 1.1% in the second quarter. Sei Investments Co. now owns 175,576 shares of the company’s stock worth $22,228,000 after buying an additional 1,974 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Marriott International by 4.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,999 shares of the company’s stock worth $5,697,000 after buying an additional 1,993 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Marriott International by 4.3% in the second quarter. SG Americas Securities LLC now owns 53,371 shares of the company’s stock worth $6,757,000 after buying an additional 2,218 shares in the last quarter. 61.74% of the stock is owned by institutional investors.
In related news, Director Frederick A. Henderson acquired 1,640 shares of Marriott International stock in a transaction dated Thursday, August 9th. The shares were purchased at an average cost of $120.84 per share, with a total value of $198,177.60. Following the completion of the purchase, the director now owns 1,640 shares of the company’s stock, valued at $198,177.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.99% of the stock is currently owned by company insiders.
MAR opened at $129.81 on Wednesday. The firm has a market capitalization of $45.26 billion, a P/E ratio of 29.77, a PEG ratio of 1.92 and a beta of 1.34. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.95. Marriott International Inc has a 52 week low of $105.07 and a 52 week high of $149.21.
Marriott International (NASDAQ:MAR) last released its earnings results on Monday, August 6th. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.37. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.90 billion. Marriott International had a return on equity of 52.81% and a net margin of 7.31%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. sell-side analysts anticipate that Marriott International Inc will post 5.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, August 23rd will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, August 22nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.26%. Marriott International’s dividend payout ratio (DPR) is currently 37.61%.
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.
Further Reading: Intrinsic Value and Stock Selection
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