Hanseatic Management Services Inc. acquired a new stake in shares of Marriott International (NASDAQ:MAR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,167 shares of the company’s stock, valued at approximately $819,000.
A number of other large investors also recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in Marriott International during the second quarter valued at $3,310,000. California Public Employees Retirement System raised its stake in Marriott International by 2.3% during the second quarter. California Public Employees Retirement System now owns 816,540 shares of the company’s stock valued at $81,907,000 after buying an additional 18,200 shares during the last quarter. TIAA FSB purchased a new position in Marriott International during the second quarter valued at $1,024,000. FMR LLC raised its stake in Marriott International by 32.5% during the second quarter. FMR LLC now owns 15,406,182 shares of the company’s stock valued at $1,545,394,000 after buying an additional 3,780,639 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Marriott International by 1.7% during the second quarter. Vanguard Group Inc. now owns 19,999,062 shares of the company’s stock valued at $2,006,106,000 after buying an additional 331,586 shares during the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
Several research analysts have recently weighed in on the company. Wolfe Research upgraded Marriott International from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 30th. Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, May 31st. BidaskClub cut Marriott International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Berenberg Bank restated a “buy” rating and issued a $125.00 price target on shares of Marriott International in a research note on Friday, August 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $109.00 price target (up previously from $92.00) on shares of Marriott International in a research note on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $100.81.
In other Marriott International news, insider J W. Marriott, Jr. sold 26,362 shares of Marriott International stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $101.78, for a total transaction of $2,683,124.36. Following the completion of the transaction, the insider now owns 203,286 shares in the company, valued at approximately $20,690,449.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider B. Marriott Marital Tr Juliana sold 30,000 shares of Marriott International stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $99.84, for a total value of $2,995,200.00. Following the transaction, the insider now owns 493,896 shares of the company’s stock, valued at approximately $49,310,576.64. The disclosure for this sale can be found here. Insiders have sold a total of 110,927 shares of company stock valued at $11,316,268 in the last quarter. Company insiders own 11.32% of the company’s stock.
Shares of Marriott International (NASDAQ MAR) opened at 107.88 on Friday. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51. The company has a market cap of $40.18 billion, a price-to-earnings ratio of 35.41 and a beta of 1.36. The firm’s 50-day moving average price is $102.54 and its 200 day moving average price is $99.47.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The company’s revenue was up 48.5% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. On average, analysts predict that Marriott International will post $4.13 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.22%. Marriott International’s payout ratio is currently 45.52%.
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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